Price for Iron Ore and Concentrate, Non-Agglomerated in Singapore - 2022

Contents:

1. Price for Iron Ore and Concentrate, Non-Agglomerated in Singapore (CIF) - 2022
2. Price for Iron Ore and Concentrate, Non-Agglomerated in Singapore (FOB) - 2022
3. Imports of Iron Ore and Concentrate, Non-Agglomerated in Singapore
4. Exports of Iron Ore and Concentrate, Non-Agglomerated in Singapore

Price for Iron Ore and Concentrate, Non-Agglomerated in Singapore (CIF) - 2022

The average import price for iron ores and concentrates, non-agglomerated stood at $103 per ton in 2022, leveling off at the previous year. Over the period under review, the import price, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2013 when the average import price increased by 49% against the previous year. The import price peaked at $282 per ton in 2015; however, from 2016 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 Australia.

From 2012 to 2022, the rate of growth in terms of prices for Australia amounted to -0.1% per year.

Price for Iron Ore and Concentrate, Non-Agglomerated in Singapore (FOB) - 2022

The average export price for iron ores and concentrates, non-agglomerated stood at $98 per ton in 2022, falling by -23% against the previous year. Overall, the export price saw a precipitous decrease. The growth pace was the most rapid in 2020 an increase of 316% against the previous year. The export price peaked at $2,864 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($329 per ton), while the average price for exports to Malaysia amounted to $98 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (-13.9%), while the prices for the other major destinations experienced a decline.

Imports of Iron Ore and Concentrate, Non-Agglomerated in Singapore

In 2022, after three years of growth, there was significant decline in purchases abroad of iron ores and concentrates, non-agglomerated, when their volume decreased by -35.3% to 183K tons. Over the period under review, imports, however, enjoyed significant growth. The growth pace was the most rapid in 2021 when imports increased by 233% against the previous year. As a result, imports attained the peak of 282K tons, and then declined significantly in the following year.

In value terms, iron ore and concentrate, non-agglomerated imports reduced dramatically to $19M in 2022. Overall, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 231% against the previous year.

Top Suppliers of Iron Ore and Concentrate, Non-Agglomerated to Singapore in 2022:

1. Australia (167.2K tons)
2. Brazil (0.7K tons)

Exports of Iron Ore and Concentrate, Non-Agglomerated in Singapore

Iron ore and concentrate, non-agglomerated exports from Singapore dropped sharply to 137 tons in 2022, which is down by -94.5% against the previous year's figure. Over the period under review, exports faced a precipitous contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 499%. As a result, the exports attained the peak of 2.5K tons, and then reduced rapidly in the following year.

In value terms, iron ore and concentrate, non-agglomerated exports dropped notably to $13K in 2022. In general, exports continue to indicate a sharp slump. The smallest decline of -0.1% was in 2020.

Top Export Markets for Iron Ore and Concentrate, Non-Agglomerated from Singapore in 2022:

1. Indonesia (undefined tons)
2. Malaysia (137.3 tons)

Source: IndexBox Market Intelligence Platform