Report Update: Apr 24, 2024

World - Iron Ores And Concentrates - Market Analysis, Forecast, Size, Trends And Insights

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Iron Ore Market

Iron ore market: get access to the latest data empowered by an Ai-driven BI platform. Data include trade, exports, market prices, consumption, production, imports, market size, and companies. Here is a breakdown by country, including Russia, Africa, EU, the U.S., Latin America, the Middle East, China, and the U.K. Market trends and forecast to 2030 are also featured in the snapshots.

Get FREE access to the latest REPORT on the Iron Ore Market. Make informed decisions with market maps on the DASHBOARD. Download datasets on the TABLE page.

Iron Ore - World's Largest Markets

Rating	Country
1	China
2	Australia
3	Russia
4	Japan
5	South Korea

In value terms, China, Australia and Russia constituted the countries with the highest levels of market value in 2020, together accounting for 77% of the global market.

Australia recorded the highest rates of growth with regard to market size, among the main consuming countries over the period under review, while iron ore market for the other global leaders experienced more modest paces of growth.

Iron Ore Prices

Lowest Prices - FOB - Top Exporters

COUNTRY	2018	2019	2020	CAGR, 2018-2020
COUNTRY	USD per ton			CAGR, 2018-2020
India	55	68	74	16.0%
Brazil	52	65	75	20.1%
Russia	83	94	78	-3.1%
Ukraine	79	85	92	7.9%
Australia	67	79	92	17.2%
South Africa	67	86	93	17.8%
Canada	86	95	103	9.4%
Sweden	101	116	114	6.2%
Average	65	77	88	16.8%

Prices varied noticeably by the country of origin; the country with the highest price was Sweden ($114 per ton), while India ($74 per ton) was amongst the lowest.

From 2018 to 2020, the most notable rate of growth in terms of prices was attained by Brazil, while the other global leaders experienced more modest paces of growth.

Highest Prices - CIF - Top Importers

COUNTRY	2018	2019	2020	CAGR, 2018-2020
COUNTRY	USD per ton			CAGR, 2018-2020
Germany	79	93	109	17.5%
Netherlands	57	73	104	35.1%
China	55	93	102	36.2%
South Korea	59	79	98	28.9%
Japan	61	86	97	26.1%
Average	60	91	101	30.1%

Average prices varied noticeably amongst the major importing countries. In 2020, major importing countries recorded the following prices: in Germany ($109 per ton) and the Netherlands ($104 per ton), while Japan ($97 per ton) and South Korea ($98 per ton) were amongst the lowest.

From 2018 to 2020, the most notable rate of growth in terms of prices was attained by China, while the other global leaders experienced more modest paces of growth.

Iron Ore - Top Importers

COUNTRY	2018	2019	2020	CAGR, 2018-2020
COUNTRY	billion USD			CAGR, 2018-2020
China	56	100	119	45.3%
Japan	7.1	10	9.7	16.7%
South Korea	4.3	5.7	6.9	26.9%
Germany	2.9	3.1	3.7	12.6%
Netherlands	1.3	1.6	2.5	38.6%

In value terms, China ($118.9B) constitutes the largest market for imported iron ores and concentrates worldwide, comprising 74% of global imports. The second position in the ranking was occupied by Japan ($9.7B), with a 6% share of global imports. It was followed by South Korea, with a 4.3% share.

In China, iron ore imports expanded at an average annual rate of +45.3% over the period from 2018-2020. In the other countries, the average annual rates were as follows: Japan (+16.7% per year) and South Korea (+26.9% per year).

Iron Ore - Top Exporters

COUNTRY	2018	2019	2020	CAGR, 2018-2020
COUNTRY	billion USD			CAGR, 2018-2020
Australia	56	66	80	20.2%
Brazil	20	23	26	12.9%
South Africa	4.3	5.8	6.1	19.5%
Canada	4.1	4.9	5.7	17.9%
Ukraine	2.9	3.4	4.2	21.6%

In value terms, Australia ($80.2B) remains the largest iron ore supplier worldwide, comprising 55% of global exports. The second position in the ranking was occupied by Brazil ($25.8B), with a 18% share of global exports. It was followed by South Africa, with a 4.2% share.

In Australia, iron ore exports expanded at an average annual rate of +20.2% over the period from 2018-2020. In the other countries, the average annual rates were as follows: Brazil (+12.9% per year) and South Africa (+19.5% per year).

Iron Ore - Market Forecast

Driven by increasing demand for iron ore worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of for the period from 2020 to 2030, which is projected to bring the market volume to by the end of 2030.

Iron Ore - Top Companies

Jiangxi Wushishan Iron Ore Mine, BHP BILLITON MINERALS PTY LTD, BHP BILLITON DIRECT REDUCED IRON PTY. LTD., BHP BILLITON LIMITED, BHP BILLITON IRON ORE PTY. LTD., Vale S/A, Ansteel Group Gongchangling Mining Company Subordinate Enterprise Company, VEDANTA LIMITED, HAMERSLEY IRON PTY. LIMITED, CHICHESTER METALS PTY LTD, FMG SOLOMON PTY LTD, FORTESCUE METALS GROUP LTD, HAMERSLEY HOLDINGS LIMITED, PILBARA IRON COMPANY (SERVICES) PTY LTD, HINDUSTAN ZINC LIMITED, HAMERSLEY IRON - YANDI PTY LIMITED, ASSMANG LTD, Luossavaara-Kiirunavaara AB, Cleveland-Cliffs Inc., MITSUI & CO. MINERAL RESOURCES DEVELOPMENT PTY LTD

Iron Ore - Product Coverage

HS 260111 - Iron ores and concentrates; non-agglomerated
HS 260112 - Iron ores and concentrates; agglomerated (excluding roasted iron pyrites)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global iron ore market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 07101000 - Iron ores and concentrates (excluding roasted iron pyrites)
Prodcom 07101010 -
Prodcom 07101020 -

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

Global market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Global production, split by region and country
Global trade (exports and imports)
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Company coverage:

Vale, Rio Tinto, BHP, Fortescue Metals Group, Anglo American, Astra Resources, Eurasian Natural Resources Corporation, Exxaro, Ferrexpo, Ferrous Resources, Glencore, Great Snaefell Mining Company, IRC Limited, Ingulets Iron Ore dressing Works, Kumba Iron Ore, LKAB, Maughold Head Mining Company, Mobarakeh Steel Company, Northland Resources, Severstal, Stoilensky GOK

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023