Price for Iron Ore and Concentrate, Non-Agglomerated in the UK - 2023

Contents:

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

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

In 2022, the average import price for iron ores and concentrates, non-agglomerated amounted to $133 per ton, falling by -3.8% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 40%. Over the period under review, average import prices attained the maximum at $139 per ton in 2021, and then fell modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($187 per ton), while the price for Australia ($68 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

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

The average export price for iron ores and concentrates, non-agglomerated stood at $346 per ton in 2022, which is down by -25.3% against the previous year. Over the period under review, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of 89%. The export price peaked at $473 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($498 per ton), while the average price for exports to Ireland ($249 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+29.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron Ore and Concentrate, Non-Agglomerated in the UK

In 2022, approx. 5.2M tons of iron ores and concentrates, non-agglomerated were imported into the UK; waning by -36.4% compared with the year before. In general, imports saw a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of 53% against the previous year. As a result, imports attained the peak of 8.1M tons, and then reduced notably in the following year.

In value terms, iron ore and concentrate, non-agglomerated imports contracted dramatically to $688M in 2022. Over the period under review, imports, however, posted a resilient expansion. The growth pace was the most rapid in 2021 when imports increased by 104% against the previous year. As a result, imports attained the peak of $1.1B, and then fell rapidly in the following year.

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

1. Brazil (1104.6K tons)
2. Canada (795.1K tons)
3. Australia (514.8K tons)
4. Liberia (494.2K tons)
5. Sweden (477.7K tons)
6. South Africa (472.8K tons)
7. Norway (368.9K tons)
8. Mauritania (358.9K tons)
9. United States (216.1K tons)
10. Russia (67.9K tons)

Exports of Iron Ore and Concentrate, Non-Agglomerated in the UK

In 2022, exports of iron ores and concentrates, non-agglomerated from the UK soared to 2.2K tons, rising by 46% against the previous year's figure. Overall, total exports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +11.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron ore and concentrate, non-agglomerated exports rose rapidly to $773K in 2022. The total export value increased at an average annual rate of +6.5% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 16%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

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

1. Ireland (763.3 tons)
2. France (375.5 tons)
3. Czech Republic (200.0 tons)
4. China (186.6 tons)
5. Portugal (163.4 tons)
6. Spain (142.8 tons)
7. Belgium (125.0 tons)
8. Australia (114.8 tons)
9. Germany (1.0 tons)

Source: IndexBox Market Intelligence Platform