Report Update Apr 1, 2024

Canada - Iron Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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Canada: Iron Ore Market 2024

Iron Ore Market Size in Canada

The Canadian iron ore market fell modestly to $X in 2022, waning by X% against the previous year. Over the period under review, consumption showed a deep setback. Iron ore consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Iron Ore Production in Canada

In value terms, iron ore production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. Iron ore production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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Iron Ore Exports

Exports from Canada

In 2022, the amount of iron ores and concentrates exported from Canada stood at X tons, remaining constant against 2021 figures. Over the period under review, total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron ore exports declined remarkably to $X in 2022. Overall, exports posted buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then declined rapidly in the following year.

Exports by Country

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

From 2012 to 2022, the average annual rate of growth in terms of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and the Netherlands (X% per year).

In value terms, the largest markets for iron ore exported from Canada were China ($X), the Netherlands ($X) and Japan ($X), with a combined X% share of total exports. South Korea, Germany, France, the United States, Spain, Algeria, Belgium, the UK, Bahrain and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Algeria, with a CAGR of X%, recorded the highest growth rate of 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 2022, the average iron ore export price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted markedly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Algeria ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Ore Imports

Imports into Canada

Iron ore imports into Canada reduced modestly to X tons in 2022, waning by X% against the year before. Over the period under review, imports, however, recorded mild growth. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, iron ore imports dropped to $X in 2022. Overall, imports saw a pronounced decline. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main supplier of iron ore to Canada, with a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to X%.

In value terms, the United States ($X) constituted the largest supplier of iron ores and concentrates to Canada.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to X%.

Import Prices by Country

The average iron ore import price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the import price showed a pronounced setback. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iron ores and concentrates in the world?

The countries with the highest volumes of consumption in 2023 were China, Australia and Russia, together comprising 72% of global consumption.

What are the largest producers of iron ores and concentrates in the world?

Australia constituted the country with the largest volume of iron ore production, comprising approx. 47% of total volume. Moreover, iron ore production in Australia exceeded the figures recorded by the second-largest producer, Brazil, threefold. Russia ranked third in terms of total production with a 14% share.

What are the leading suppliers of iron ores and concentrates to Canada?

In value terms, the United States constituted the largest supplier of iron ores and concentrates to Canada.

What are the leading importers of iron ores and concentrates from Canada?

In value terms, the largest markets for iron ore exported from Canada were China, the Netherlands and Japan, with a combined 48% share of total exports. South Korea, Germany, France, the United States, Spain, Algeria, Belgium, the UK, Bahrain and Taiwan Chinese) lagged somewhat behind, together comprising a further 46%.

What is the average export price for iron ores and concentrates in Canada?

In 2022, the average iron ore export price amounted to $122 per ton, with a decrease of -16.9% against the previous year.

What is the average import price for iron ores and concentrates in Canada?

The average iron ore import price stood at $94 per ton in 2022, shrinking by -3.4% against the previous year.

This report provides an in-depth analysis of the iron ore market in Canada. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 07101000 - Iron ores and concentrates (excluding roasted iron pyrites)
Prodcom 07101010 -
Prodcom 07101020 -

Country coverage:

Canada

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Canada
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
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How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023