Asia: Iron Ore Market 2021

Iron Ore Market Size in Asia

In 2019, the Asian iron ore market increased by X% to $X, rising for the third consecutive year after three years of decline. The total consumption indicated a measured increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2011 with an increase of X% y-o-y. The level of consumption peaked at $X in 2013; however, from 2014 to 2019, consumption failed to regain the momentum.

Iron Ore Production in Asia

In value terms, iron ore production fell to $X in 2019 estimated in export prices. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2019, production failed to regain the momentum.

Production By Country in Asia

The countries with the highest volumes of iron ore production in 2019 were China (X tons), India (X tons) and Iran (X tons), with a combined X% share of total production. These countries were followed by Kazakhstan and Vietnam, which together accounted for a further X 2007 to 2019, the most notable rate of growth in terms of iron ore production, amongst the key producing countries, was attained by Vietnam, while iron ore production for the other leaders experienced more modest paces of growth.

Iron Ore Exports

Exports in Asia

Iron ore exports skyrocketed to X tons in 2019, increasing by X% on 2018. Total exports indicated a modest increase from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2009 when exports increased by X% against the previous year. Over the period under review, exports attained the maximum at X tons in 2010; however, from 2011 to 2019, exports remained at a lower figure.

In value terms, iron ore exports soared to $X in 2019. Total exports indicated a temperate increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2008 when exports increased by X% against the previous year. The level of export peaked at $X in 2011; however, from 2012 to 2019, exports stood at a somewhat lower figure.

Exports by Country

In 2019, India (X tons) and Malaysia (X tons) represented the main exporters of iron ores in Asia, together recording near X% of total exports. Iran (X tons) occupied the next position in the ranking, followed by Indonesia (X tons), Kazakhstan (X tons), China (X tons) and Bahrain (X tons). All these countries together held approx. X% share of total exports.

From 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron ore supplying countries in Asia were Indonesia ($X), India ($X) and Iran ($X), with a combined X% share of total exports. These countries were followed by Malaysia, China, Kazakhstan and Bahrain, which together accounted for a further X saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The iron ore export price in Asia stood at $X per ton in 2019, rising by X% against the previous year. Export price indicated a measured increase from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, iron ore export price increased by +X% against 2015 indices. The pace of growth was the most pronounced in 2011 when the export price increased by X% year-to-year. Over the period under review, export prices hit record highs at $X per ton in 2012; however, from 2013 to 2019, export prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Indonesia, while the other leaders experienced more modest paces of growth.

Iron Ore Imports

Imports in Asia

For the thirteenth consecutive year, Asia recorded growth in supplies from abroad of iron ores, which increased by X% to X tons in 2019. Total imports indicated a resilient expansion from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +X% against 2007 indices. The most prominent rate of growth was recorded in 2009 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2019 and are likely to continue growth in the near future.

In value terms, iron ore imports amounted to $X in 2019. In general, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2011 when imports increased by X% y-o-y. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2019, imports stood at a somewhat lower figure.

Imports by Country

China dominates iron ore imports structure, recording X tons, which was approx. X% of total imports in 2019. Japan (X tons) held the second position in the ranking, followed by South Korea (X tons). All these countries together held near X% share of total imports. The following importers - Malaysia (X tons) and Taiwan (Chinese) (X tons) - each resulted at a X% share of total imports.

Imports into China increased at an average annual rate of +X% from 2007 to 2019. At the same time, Malaysia (+X%), South Korea (+X%) and Taiwan (Chinese) (+X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia, with a CAGR of +X% from 2007-2019. By contrast, Japan (-X%) illustrated a downward trend over the same period. From 2007 to 2019, the share of China and Malaysia increased by +X% and +X% percentage points, while South Korea (-X p.p.) and Japan (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported iron ores in Asia, comprising X% of total imports. The second position in the ranking was occupied by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

In China, iron ore imports expanded at an average annual rate of +X% over the period from 2007-2019. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+X% per year) and South Korea (+X% per year).

Import Prices by Country

In 2019, the iron ore import price in Asia amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 when the import price increased by X% y-o-y. The level of import peaked at $X per ton in 2012; however, from 2013 to 2019, import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Taiwan (Chinese) ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Japan, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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