Price for Iron Oxides and Hydroxides in China - 2023
Contents:
- Price for Iron Oxides and Hydroxides in China (FOB) - 2023
- Price for Iron Oxides and Hydroxides in China (CIF) - 2022
- Exports of Iron Oxides and Hydroxides in China
- Imports of Iron Oxides and Hydroxides in China
Price for Iron Oxides and Hydroxides in China (FOB) - 2023
In September 2023, the average iron oxides and hydroxides export price amounted to $1,012 per ton, flattening at the previous month. In general, the export price continues to indicate a noticeable slump. The pace of growth was the most pronounced in December 2022 an increase of 14% against the previous month. As a result, the export price attained the peak level of $1,379 per ton. From January 2023 to September 2023, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In September 2023, the country with the highest price was Vietnam ($1,173 per ton), while the average price for exports to Indonesia ($619 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-0.7%), while the prices for the other major destinations experienced a decline.
Price for Iron Oxides and Hydroxides in China (CIF) - 2022
In 2022, the average iron oxides and hydroxides import price amounted to $638 per ton, increasing by 31% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($1,837 per ton), while the price for Vietnam ($211 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron Oxides and Hydroxides in China
Iron oxides and hydroxides exports from China totaled 356K tons in 2022, leveling off at the previous year. The total export volume increased at an average annual rate of +6.6% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, iron oxides and hydroxides exports skyrocketed to $462M in 2022. Over the period under review, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +16.6% 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 +59.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 36%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.
| Export of Iron Oxides and Hydroxides in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 66.6 | 69.7 | 83.7 | 128 | 24.3% |
| Russia | 10.1 | 8.5 | 15.0 | 25.6 | 36.3% |
| Germany | 15.8 | 11.3 | 12.3 | 22.4 | 12.3% |
| India | 14.8 | 12.8 | 17.5 | 19.1 | 8.9% |
| Australia | 8.7 | 8.1 | 9.7 | 15.4 | 21.0% |
| South Africa | 9.7 | 12.3 | 17.2 | 14.3 | 13.8% |
| Belgium | 8.1 | 7.6 | 12.2 | 14.2 | 20.6% |
| Vietnam | 8.0 | 10.2 | 12.9 | 13.6 | 19.3% |
| United Kingdom | 6.9 | 6.2 | 11.5 | 12.2 | 20.9% |
| Indonesia | 8.0 | 7.4 | 10.8 | 11.9 | 14.2% |
| South Korea | 8.0 | 7.2 | 10.5 | 10.0 | 7.7% |
| Spain | 6.9 | 6.3 | 13.4 | 9.8 | 12.4% |
| Mexico | 4.1 | 4.6 | 8.7 | 9.0 | 30.0% |
| Others | 116 | 118 | 161 | 156 | 10.4% |
| Total | 291 | 290 | 396 | 462 | 16.7% |
Top Export Markets for Iron Oxides and Hydroxides from China in 2022:
- United States (101.7K tons)
- Russia (20.2K tons)
- Germany (15.5K tons)
- India (14.5K tons)
- Australia (12.2K tons)
- Belgium (11.5K tons)
- South Africa (10.9K tons)
- Indonesia (10.5K tons)
- United Kingdom (9.7K tons)
- Vietnam (8.6K tons)
- South Korea (7.6K tons)
- Spain (7.5K tons)
- Mexico (7.0K tons)
Imports of Iron Oxides and Hydroxides in China
In 2022, approx. 147K tons of iron oxides and hydroxideses were imported into China; declining by -39.5% against the previous year. Overall, imports showed a perceptible curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 51%. As a result, imports attained the peak of 242K tons, and then reduced dramatically in the following year.
In value terms, iron oxides and hydroxides imports declined markedly to $94M in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +6.2% 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 +31.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 66% against the previous year. As a result, imports attained the peak of $118M, and then shrank rapidly in the following year.
| Import of Iron Oxides and Hydroxides in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 12.9 | 12.1 | 23.7 | 21.5 | 18.6% |
| Germany | 23.4 | 25.1 | 24.1 | 20.3 | -4.6% |
| South Korea | 13.4 | 13.1 | 34.4 | 17.0 | 8.3% |
| United States | 6.5 | 2.9 | 7.3 | 6.7 | 1.0% |
| Vietnam | 2.1 | 2.9 | 5.8 | 4.3 | 27.0% |
| Austria | 3.9 | 3.2 | 4.0 | 3.8 | -0.9% |
| Turkey | 0.7 | 0.2 | 1.2 | 2.4 | 50.8% |
| Taiwan (Chinese) | 9.6 | N/A | N/A | N/A | 0% |
| Others | 5.8 | 11.4 | 17.5 | 17.6 | 44.8% |
| Total | 78.2 | 71.0 | 118 | 93.6 | 6.2% |
Top Suppliers of Iron Oxides and Hydroxides to China in 2022:
- South Korea (27.6K tons)
- Japan (24.8K tons)
- Vietnam (20.3K tons)
- Germany (11.0K tons)
- United States (9.9K tons)
- Turkey (8.4K tons)
- Austria (7.9K tons)
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