Canada: Iron Ore Market 2021

Iron Ore Market Size in Canada

The Canadian iron ore market plummeted to $X in 2019, reducing by -X% against the previous year. In general, consumption, however, showed a mild setback. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2019, consumption stood at a somewhat lower figure.

Iron Ore Production in Canada

In value terms, iron ore production expanded rapidly to $X in 2019 estimated in export prices. In general, the total production indicated a noticeable expansion 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, production increased by +X% against 2016 indices. The growth pace was the most rapid in 2008 with an increase of X% y-o-y. Iron ore production peaked at $X in 2014; however, from 2015 to 2019, production stood at a somewhat lower figure.

Iron Ore Exports

Exports from Canada

For the fourth year in a row, Canada recorded growth in shipments abroad of iron ores, which increased by X% to X tons in 2019. Overall, total exports indicated a moderate expansion from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve-year period. 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 pace of growth was the most pronounced in 2016 with an increase of X% year-to-year. Over the period under review, exports hit record highs in 2019 and are likely to see steady growth in years to come.

In value terms, iron ore exports skyrocketed to $X in 2019. In general, total exports indicated strong growth 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 growth pace was the most rapid in 2008 with an increase of X% year-to-year. Over the period under review, exports hit record highs in 2019 and are expected to retain growth in years to come.

Exports by Country

China (X tons), Japan (X tons) and the Netherlands (X tons) were the main destinations of iron ore exports from Canada, with a combined X% share of total exports. These countries were followed by France, Belgium, South Korea, Germany and the UK, which together accounted for a further X 2007 to 2019, the biggest increases were in Belgium, while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and the Netherlands ($X) were the largest markets for iron ore exported from Canada worldwide, together comprising X% of total exports. France, South Korea, Germany, Belgium and the UK lagged somewhat behind, together comprising a further X the main countries of destination, Belgium saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2019, the average iron ore export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 an increase of X% y-o-y. As a result, export price attained the peak level of $X per ton. From 2009 to 2019, the growth in terms of the average export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2019, the highest prices were recorded for prices to Japan ($X per ton) and South Korea ($X per ton), while the average price for exports to the UK ($X per ton) and France ($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 South Korea, while the prices for the other major destinations experienced more modest paces of growth.

Iron Ore Imports

Imports into Canada

For the fourth consecutive year, Canada recorded growth in purchases abroad of iron ores, which increased by X% to X tons in 2019. Over the period under review, imports recorded a temperate expansion. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2019 and are expected to retain growth in years to come.

In value terms, iron ore imports stood at $X in 2019. Overall, imports enjoyed a moderate increase. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, the U.S. (X tons) was the main iron ore supplier to Canada, with a approx. X% share of total imports.

From 2007 to 2019, the average annual growth rate of volume from the U.S. stood at +X%.

In value terms, the U.S. ($X) constituted the largest supplier of iron ore to Canada.

From 2007 to 2019, the average annual growth rate of value from the U.S. stood at +X%.

Import Prices by Country

The average iron ore import price stood at $X per ton in 2019, which is down by -X% against the previous year. Over the period under review, the import price continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2008 an increase of X% year-to-year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2019, import prices remained at a lower figure.

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

From 2007 to 2019, the rate of growth in terms of prices for the U.S. amounted to -X% per year.

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