Price for Iron Ore and Concentrate, Non-Agglomerated in Norway - 2023
Contents:
- Price for Iron Ore and Concentrate, Non-Agglomerated in Norway (FOB) - 2022
- Price for Iron Ore and Concentrate, Non-Agglomerated in Norway (CIF) - 2023
- Exports of Iron Ore and Concentrate, Non-Agglomerated in Norway
- Imports of Iron Ore and Concentrate, Non-Agglomerated in Norway
Price for Iron Ore and Concentrate, Non-Agglomerated in Norway (FOB) - 2022
In 2022, the average export price for iron ores and concentrates, non-agglomerated amounted to $78 per ton, dropping by -27.5% against the previous year. Over the period under review, the export price showed a perceptible decrease. The pace of growth appeared the most rapid in 2021 when the average export price increased by 54%. As a result, the export price reached the peak level of $108 per ton, and then reduced remarkably in the following year.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the UK ($83 per ton) and the Netherlands ($79 per ton), while the average price for exports to Turkey ($69 per ton) and Germany ($74 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (-0.7%), while the prices for the other major destinations experienced a decline.
Price for Iron Ore and Concentrate, Non-Agglomerated in Norway (CIF) - 2023
The average import price for iron ores and concentrates, non-agglomerated stood at $69.4 per ton in August 2023, shrinking by -88.3% against the previous month. Over the period under review, the import price saw a pronounced reduction. The pace of growth was the most pronounced in February 2023 when the average import price increased by 1,344% m-o-m. As a result, import price attained the peak level of $809 per ton. From March 2023 to August 2023, the average import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Sweden.
From August 2022 to August 2023, the rate of growth in terms of prices for the United States amounted to 0.0% per month.
Exports of Iron Ore and Concentrate, Non-Agglomerated in Norway
After two years of decline, shipments abroad of iron ores and concentrates, non-agglomerated increased by 4.1% to 1.8M tons in 2022. In general, exports, however, recorded a relatively flat trend pattern.
In value terms, iron ore and concentrate, non-agglomerated exports contracted markedly to $142M in 2022. Over the period under review, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +9.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +31.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49%. As a result, the exports attained the peak of $188M, and then reduced notably in the following year.
| Export of Iron Ore and Concentrate, Non-Agglomerated in Norway (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 87.4 | 83.3 | 128 | 87.9 | 0.2% |
| Germany | 4.5 | 4.3 | 21.8 | 27.6 | 83.0% |
| United Kingdom | 11.7 | 12.3 | 23.7 | 17.5 | 14.4% |
| Turkey | N/A | N/A | N/A | 3.4 | 0% |
| China | N/A | 12.5 | N/A | N/A | 0% |
| Others | 4.6 | 14.0 | 14.8 | 5.3 | 4.8% |
| Total | 108 | 126 | 188 | 142 | 9.6% |
Top Export Markets for Iron Ore and Concentrate, Non-Agglomerated from Norway in 2022:
- Netherlands (1117.1K tons)
- Germany (374.3K tons)
- United Kingdom (211.2K tons)
- Turkey (49.5K tons)
Imports of Iron Ore and Concentrate, Non-Agglomerated in Norway
In 2022, supplies from abroad of iron ores and concentrates, non-agglomerated decreased by -43.5% to 18K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports saw a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 11% against the previous year. As a result, imports reached the peak of 36K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, iron ore and concentrate, non-agglomerated imports shrank dramatically to $3.6M in 2022. In general, imports recorded a abrupt contraction. The growth pace was the most rapid in 2020 with an increase of 16%.
| Import of Iron Ore and Concentrate, Non-Agglomerated in Norway (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sweden | 0.6 | 1.5 | 2.3 | 1.8 | 44.2% |
| United States | N/A | N/A | N/A | 1.1 | 0% |
| Russia | 5.0 | 5.0 | 5.0 | 0.7 | -48.1% |
| Others | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
| Total | 5.7 | 6.6 | 7.5 | 3.6 | -14.2% |
Top Suppliers of Iron Ore and Concentrate, Non-Agglomerated to Norway in 2022:
- Sweden (9.7K tons)
- United States (4.9K tons)
- Russia (3.4K tons)
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