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

Contents:

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

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

In 2022, the average import price for iron ores and concentrates, non-agglomerated amounted to $44 per ton, surging by 16% against the previous year. In general, the import price, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 an increase of 58% against the previous year. Over the period under review, average import prices hit record highs at $150 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Brazil.

From 2012 to 2022, the rate of growth in terms of prices for Brazil amounted to -11.5% per year.

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

In 2022, the average export price for iron ores and concentrates, non-agglomerated amounted to $95 per ton, dropping by -23% against the previous year. Overall, the export price recorded a perceptible reduction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 428%. As a result, the export price reached the peak level of $2,013 per ton. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($618 per ton), while the average price for exports to Japan ($71 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 Japan (+8.0%), while the prices for the other major destinations experienced a decline.

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

After three years of growth, purchases abroad of iron ores and concentrates, non-agglomerated decreased by -8.6% to 663K tons in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +14.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.0% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 37% against the previous year.

In value terms, iron ore and concentrate, non-agglomerated imports rose markedly to $29M in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +14.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -5.4% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 60% against the previous year. As a result, imports reached the peak of $31M. From 2021 to 2022, the growth of imports remained at a lower figure.

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

1. Brazil (663.1K tons)

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

In 2022, iron ore and concentrate, non-agglomerated exports from Uruguay surged to 236K tons, jumping by 15% on the previous year. Overall, exports recorded a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 511% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, iron ore and concentrate, non-agglomerated exports dropped to $22M in 2022. In general, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +14.1% 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 +48.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 30% against the previous year.

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

1. China (130.1K tons)
2. Spain (0.4K tons)

Source: IndexBox Market Intelligence Platform