Price for Iron Ore and Concentrate, Non-Agglomerated in India - 2023
Contents:
- Price for Iron Ore and Concentrate, Non-Agglomerated in India (FOB) - 2023
- Price for Iron Ore and Concentrate, Non-Agglomerated in India (CIF) - 2023
- Exports of Iron Ore and Concentrate, Non-Agglomerated in India
- Imports of Iron Ore and Concentrate, Non-Agglomerated in India
Price for Iron Ore and Concentrate, Non-Agglomerated in India (FOB) - 2023
The average export price for iron ores and concentrates, non-agglomerated stood at $62.0 per ton in July 2023, approximately reflecting the previous month. In general, export price indicated a moderate expansion from July 2022 to July 2023: its price increased at an average monthly rate of +2.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, iron ore and concentrate, non-agglomerated export price decreased by -18.1% against March 2023 indices. The most prominent rate of growth was recorded in December 2022 when the average export price increased by 31% m-o-m. The export price peaked at $75.7 per ton in March 2023; however, from April 2023 to July 2023, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for China.
From July 2022 to July 2023, the rate of growth in terms of prices for China amounted to +2.3% per month.
Price for Iron Ore and Concentrate, Non-Agglomerated in India (CIF) - 2023
In July 2023, the average import price for iron ores and concentrates, non-agglomerated amounted to $98.6 per ton, falling by -8.6% against the previous month. Overall, the import price saw a noticeable contraction. The pace of growth was the most pronounced in November 2022 when the average import price increased by 218% against the previous month. Over the period under review, average import prices reached the peak figure at $281 per ton in August 2022; however, from September 2022 to July 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Brazil ($135 per ton), while the price for Australia ($88.0 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Canada (+7.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Iron Ore and Concentrate, Non-Agglomerated in India
In 2022, the amount of iron ores and concentrates, non-agglomerated exported from India soared to 31M tons, jumping by 23% against 2021. Overall, exports saw strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 110% against the previous year. As a result, the exports reached the peak of 39M tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, iron ore and concentrate, non-agglomerated exports reduced to $2B in 2022. Over the period under review, exports showed a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 134%. As a result, the exports reached the peak of $2.4B. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Iron Ore and Concentrate, Non-Agglomerated in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 802 | 2,150 | 1,988 | 1,830 | 31.7% |
| Japan | 161 | 176 | 76.4 | 125 | -8.1% |
| South Korea | 49.0 | 40.4 | 26.2 | 35.0 | -10.6% |
| Others | 7.9 | 24.1 | 19.1 | 10.8 | 11.0% |
| Total | 1,020 | 2,391 | 2,109 | 2,001 | 25.2% |
Top Export Markets for Iron Ore and Concentrate, Non-Agglomerated from India in 2022:
- China (28.1M tons)
- Japan (1.6M tons)
- South Korea (0.5M tons)
Imports of Iron Ore and Concentrate, Non-Agglomerated in India
In 2022, the amount of iron ores and concentrates, non-agglomerated imported into India plummeted to 2.2M tons, shrinking by -57.8% on 2021. In general, imports, however, enjoyed a mild expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 1,422%. As a result, imports reached the peak of 5.2M tons, and then fell rapidly in the following year.
In value terms, iron ore and concentrate, non-agglomerated imports dropped rapidly to $202M in 2022. Over the period under review, imports, however, posted tangible growth. The pace of growth was the most pronounced in 2021 with an increase of 786%. As a result, imports reached the peak of $360M, and then reduced markedly in the following year.
| Import of Iron Ore and Concentrate, Non-Agglomerated in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Africa | 88.4 | 20.8 | 100 | 111 | 7.9% |
| Australia | 32.8 | 8.0 | 81.8 | 91.0 | 40.5% |
| Brazil | 45.3 | N/A | 179 | N/A | 98.8% |
| Others | 16.9 | 11.9 | 0.1 | 0.2 | -77.2% |
| Total | 183 | 40.7 | 360 | 202 | 3.3% |
Top Suppliers of Iron Ore and Concentrate, Non-Agglomerated to India in 2022:
- Australia (1557.5K tons)
- South Africa (616.8K tons)
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