Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Canada - 2023
Contents:
- Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Canada (FOB) - 2023
- Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Canada (CIF) - 2022
- Exports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Canada
- Imports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Canada
Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Canada (FOB) - 2023
The average export price for iron ores and concentrates, agglomerated (excluding roasted iron pyrites) stood at $144 per ton in December 2023, reducing by -10.2% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2023 an increase of 20% m-o-m. As a result, the export price attained the peak level of $161 per ton, and then reduced in the following month.
There were significant differences in the average prices for the major overseas markets. In December 2023, the country with the highest price was Qatar ($206 per ton), while the average price for exports to Belgium ($76.0 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+12.5%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Canada (CIF) - 2022
The average import price for iron ores and concentrates, agglomerated (excluding roasted iron pyrites) stood at $92 per ton in 2022, which is down by -3.4% against the previous year. Overall, the import price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2015 an increase of 296%. The import price peaked at $816 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -3.9% per year.
Exports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Canada
In 2022, shipments abroad of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) decreased by -4.5% to 15M tons, falling for the second consecutive year after two years of growth. Over the period under review, exports continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2020 with an increase of 2.1% against the previous year. As a result, the exports reached the peak of 16M tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) dropped to $2.3B in 2022. In general, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +9.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +31.1% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 52%. As a result, the exports attained the peak of $2.7B, and then contracted in the following year.
| Export of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 157 | 193 | 423 | 502 | 47.3% |
| United States | 106 | 165 | 301 | 326 | 45.4% |
| Algeria | 82.1 | 119 | 270 | 285 | 51.4% |
| France | 196 | 261 | 315 | 265 | 10.6% |
| Spain | 158 | 207 | 166 | 191 | 6.5% |
| Japan | 229 | 144 | 209 | 172 | -9.1% |
| Trinidad and Tobago | 117 | 72.1 | 151 | 124 | 2.0% |
| Belgium | 170 | 71.5 | 58.4 | 101 | -15.9% |
| Germany | 98.6 | 123 | 232 | 68.5 | -11.4% |
| China | 88.3 | 184 | 240 | 51.8 | -16.3% |
| Taiwan (Chinese) | 90.7 | 8.0 | 60.5 | 13.8 | -46.6% |
| Turkey | 131 | 20.3 | N/A | N/A | -84.5% |
| Others | 153 | 197 | 254 | 214 | 11.8% |
| Total | 1,776 | 1,766 | 2,679 | 2,315 | 9.2% |
Top Export Markets for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) from Canada in 2022:
- France (2.9M tons)
- Netherlands (2.8M tons)
- United States (1.6M tons)
- Algeria (1.4M tons)
- Japan (1.1M tons)
- Spain (1.1M tons)
- Belgium (0.9M tons)
- Trinidad and Tobago (0.7M tons)
- China (0.6M tons)
- Germany (0.4M tons)
- Taiwan (Chinese) (0.1M tons)
Imports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Canada
In 2022, the amount of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) imported into Canada declined slightly to 7.6M tons, which is down by -2.9% compared with the year before. In general, imports showed a pronounced downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 11% against the previous year.
In value terms, imports of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) fell to $703M in 2022. Over the period under review, imports saw a perceptible downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 25%.
| Import of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 757 | 598 | 750 | 703 | -2.4% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 757 | 598 | 750 | 703 | -2.4% |
Top Suppliers of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) to Canada in 2022:
- United States (7.6M tons)
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