Brazil: Iron Ore Market 2021

Iron Ore Market Size in Brazil

The Brazilian iron ore market soared to $X in 2019, with an increase of X% against the previous year. In general, consumption continues to indicate a moderate increase. The most prominent rate of growth was recorded in 2011 when the market value increased by X% year-to-year. As a result, consumption reached the peak level of $X. From 2012 to 2019, the growth of the market remained at a lower figure.

Iron Ore Production in Brazil

In value terms, iron ore production skyrocketed to $X in 2019 estimated in export prices. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when the production volume increased by X% year-to-year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2019, production failed to regain the momentum.

Iron Ore Exports

Exports from Brazil

In 2019, overseas shipments of iron ores decreased by -X% to X tons for the first time since 2013, thus ending a five-year rising trend. The total export volume increased at an average annual rate of +X% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Exports peaked at X tons in 2018, and then reduced in the following year.

In value terms, iron ore exports stood at $X in 2019. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when exports increased by X% year-to-year. Exports peaked at $X in 2012; however, from 2013 to 2019, exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for iron ore exports from Brazil, accounting for a X% share of total exports. Moreover, iron ore exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), eightfold. The third position in this ranking was occupied by Japan (X tons), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to China amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+X% per year) and Japan (-X% per year).

In value terms, China ($X) remains the key foreign market for iron ore exports from Brazil, comprising X% of total exports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to China amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+X% per year) and Japan (-X% per year).

Export Prices by Country

In 2019, the average iron ore export price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2010 an increase of X% y-o-y. Over the period under review, average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2019, export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2019, the highest prices were recorded for prices to Bahrain ($X per ton) and Japan ($X per ton), while the average price for exports to China ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain, while the prices for the other major destinations experienced a decline.

Iron Ore Imports

Imports into Brazil

Iron ore imports into Brazil surged to X tons in 2019, increasing by X% against the year before. Over the period under review, imports showed a significant expansion. The most prominent rate of growth was recorded in 2008 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2009 to 2019, the growth imports remained at a lower figure.

In value terms, iron ore imports expanded remarkably to $X in 2019. In general, imports showed prominent growth. The most prominent rate of growth was recorded in 2008 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2009 to 2019, the growth imports remained at a lower figure.

Imports by Country

In 2019, Bahrain (X tons) was the main iron ore supplier to Brazil, with a X% share of total imports. Moreover, iron ore imports from Bahrain exceeded the figures recorded by the second-largest supplier, South Africa (X tons), more than tenfold.

From 2007 to 2019, the average annual growth rate of volume from Bahrain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+X% per year) and Bolivia (-X% per year).

In value terms, South Africa ($X) constituted the largest supplier of iron ore to Brazil, comprising X% of total imports. The second position in the ranking was occupied by Bahrain ($X), with a X% share of total imports.

From 2007 to 2019, the average annual growth rate of value from South Africa totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Bahrain (X% per year) and Bolivia (-X% per year).

Import Prices by Country

The average iron ore import price stood at $X per ton in 2019, dropping by -X% against the previous year. In general, the import price continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2007; however, from 2008 to 2019, import prices stood at a somewhat lower figure.

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

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by South Africa, while the prices for the other major suppliers experienced mixed trend patterns.

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