Price for Iron Oxides and Hydroxides in Kuwait - 2021

Price for Iron Oxides and Hydroxides in Kuwait (CIF) - 2022

The average iron oxides and hydroxides import price stood at $1,122 per ton in 2022, stabilizing at the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 7.2%. As a result, import price attained the peak level of $1,181 per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($1,623 per ton), while the price for Saudi Arabia ($386 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Iron Oxides and Hydroxides in Kuwait (FOB) - 2022

In 2020, the average iron oxides and hydroxides export price amounted to $532 per ton, approximately reflecting the previous year. Over the period under review, the export price, however, continues to indicate a deep slump. The pace of growth appeared the most rapid in 2018 an increase of 27%. Over the period under review, the average export prices reached the maximum at $1,241 per ton in 2016; however, from 2017 to 2020, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Iraq.

From 2013 to 2020, the rate of growth in terms of prices for Oman amounted to +4.6% per year.

Imports of Iron Oxides and Hydroxides in Kuwait

In 2022, imports of iron oxides and hydroxideses into Kuwait contracted markedly to 2.3K tons, falling by -24.1% against the previous year. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 90%. As a result, imports attained the peak of 3K tons, and then dropped rapidly in the following year.

In value terms, iron oxides and hydroxides imports contracted sharply to $2.6M in 2022. Over the period under review, total imports indicated a measured increase from 2019 to 2022: its value increased at an average annual rate of +2.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.3% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 93% against the previous year. As a result, imports attained the peak of $3.4M, and then declined notably in the following year.

Import of Iron Oxides and Hydroxides in Kuwait (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	1,285	881	2,010	1,485	4.9%
Germany	712	381	651	481	-12.3%
South Korea	120	74.9	269	199	18.4%
Netherlands	9.4	25.8	36.7	62.9	88.4%
India	119	65.2	71.9	53.1	-23.6%
United Arab Emirates	76.0	56.4	33.5	41.1	-18.5%
Saudi Arabia	17.2	20.2	27.3	20.2	5.5%
United Kingdom	52.8	96.5	122	19.2	-28.6%
Others	33.3	164	180	222	88.2%
Total	2,425	1,765	3,401	2,583	2.1%

Top Suppliers of Iron Oxides and Hydroxides to Kuwait in 2022:

China (1254.1 tons)
Germany (431.5 tons)
South Korea (256.7 tons)
India (110.9 tons)
Saudi Arabia (52.2 tons)
Netherlands (38.8 tons)
United Arab Emirates (38.2 tons)
United Kingdom (9.6 tons)

Exports of Iron Oxides and Hydroxides in Kuwait

In 2020, approx. 57 tons of iron oxides and hydroxideses were exported from Kuwait; growing by 51% compared with the previous year. In general, total exports indicated a significant expansion from 2019 to 2020: its volume increased at an average annual rate of +50.7% over the last one-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, iron oxides and hydroxides exports surged to $31K in 2020. Over the period under review, total exports indicated significant growth from 2019 to 2020: its value increased at an average annual rate of +51.8% over the last one-year period. 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.