Global Iron Ore Market 2021

Iron Ore Market Size

In 2019, the global iron ore market increased by X% to $X, rising for the third consecutive year after three years of decline. In general, the total consumption indicated a pronounced increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2011 with an increase of X% year-to-year. Global consumption peaked at $X in 2013; however, from 2014 to 2019, consumption remained at a lower figure.

Iron Ore Production

In value terms, iron ore production skyrocketed to $X in 2019 estimated in export prices. Over the period under review, production saw a perceptible expansion. The most prominent rate of growth was recorded in 2010 when the production volume increased by X% y-o-y. Global production peaked at $X in 2012; however, from 2013 to 2019, production failed to regain the momentum.

Production By Country

The countries with the highest volumes of iron ore production in 2019 were Australia (X tons), Brazil (X tons) and China (X tons), with a combined X% share of global production.

From 2007 to 2019, the biggest increases were in Australia, while iron ore production for the other global leaders experienced more modest paces of growth.

Iron Ore Exports

Exports

Global iron ore exports stood at X tons in 2019, with an increase of X% compared with 2018. In general, total exports indicated a prominent increase from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports decreased by -X% against 2017 indices. The pace of growth was the most pronounced in 2010 with an increase of X% y-o-y. Over the period under review, global exports attained the peak figure at X tons in 2017; however, from 2018 to 2019, exports remained at a lower figure.

In value terms, iron ore exports surged to $X in 2019. Over the period under review, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Global exports peaked at $X in 2013; however, from 2014 to 2019, exports failed to regain the momentum.

Exports by Country

Australia was the key exporting country with an export of about X tons, which reached X% of total exports. It was distantly followed by Brazil (X tons), constituting a X% share of total exports. The following exporters - South Africa (X tons), Canada (X tons), Ukraine (X tons), India (X tons) and Malaysia (X tons) - together made up X% of total exports.

Exports from Australia increased at an average annual rate of +X% from 2007 to 2019. At the same time, Malaysia (+X%), South Africa (+X%), Ukraine (+X%), Canada (+X%) and Brazil (+X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of +X% from 2007-2019. By contrast, India (-X%) illustrated a downward trend over the same period. From 2007 to 2019, the share of Australia and Malaysia increased by +X% and +X% percentage points, while India (-X p.p.) and Brazil (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest iron ore supplier worldwide, comprising X% of global exports. The second position in the ranking was occupied by Brazil ($X), with a X% share of global exports. It was followed by South Africa, with a X% share.

In Australia, iron ore exports expanded at an average annual rate of +X% over the period from 2007-2019. In the other countries, the average annual rates were as follows: Brazil (+X% per year) and South Africa (+X% per year).

Export Prices by Country

In 2019, the average iron ore export price amounted to $X per ton, rising by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2011 when the average export price increased by X% year-to-year. As a result, export price attained the peak level of $X per ton. From 2012 to 2019, the growth in terms of the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2019, the country with the highest price was Ukraine ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Ukraine, while the other global leaders experienced more modest paces of growth.

Iron Ore Imports

Imports

In 2019, overseas purchases of iron ores decreased by -X% to X tons for the first time since 2011, thus ending a seven-year rising trend. Over the period under review, total imports indicated a strong expansion from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +X% against 2008 indices. The pace of growth was the most pronounced in 2010 with an increase of X% y-o-y. Over the period under review, global imports hit record highs at X tons in 2018, and then contracted in the following year.

In value terms, iron ore imports reached $X in 2019. Overall, imports, however, recorded a perceptible expansion. The pace of growth appeared the most rapid in 2011 when imports increased by X% year-to-year. Over the period under review, global imports hit record highs at $X in 2013; however, from 2014 to 2019, imports remained at a lower figure.

Imports by Country

China prevails in iron ore imports structure, amounting to X tons, which was near X% of total imports in 2019. It was distantly followed by Japan (X tons) and South Korea (X tons), together making up a X% share of total imports. Germany (X tons), Malaysia (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2007 to 2019, average annual rates of growth with regard to iron ore imports into China stood at +X%. At the same time, Malaysia (+X%), South Korea (+X%) and Taiwan (Chinese) (+X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2007-2019. By contrast, Japan (-X%) and Germany (-X%) illustrated a downward trend over the same period. China (+X p.p.) and Malaysia (+X p.p.) significantly strengthened its position in terms of the global imports, while Germany and Japan saw its share reduced by -X% and -X% from 2007 to 2019, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported iron ores worldwide, comprising X% of global imports. The second position in the ranking was occupied by Japan ($X), with a X% share of global imports. It was followed by South Korea, with a X% share.

In China, iron ore imports increased at an average annual rate of +X% over the period from 2007-2019. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+X% per year) and South Korea (+X% per year).

Import Prices by Country

The average iron ore import price stood at $X per ton in 2019, increasing by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the average import price increased by X% y-o-y. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2019, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2019, the country with the highest price was Germany ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Germany, while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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