Central Asia: Iron Ore Market 2024

Iron Ore Market Size in Central Asia

The Central Asian iron ore market soared to $X in 2022, with an increase of X% against the previous year. Overall, consumption, however, saw a abrupt decrease. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Iron Ore Production in Central Asia

In value terms, iron ore production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a deep slump. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Iron Ore Exports

Exports in Central Asia

In 2022, shipments abroad of iron ores and concentrates decreased by X% to X tons, falling for the second year in a row after five years of growth. Overall, exports saw a deep slump. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, iron ore exports declined markedly to $X in 2022. Over the period under review, exports showed a deep downturn. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Kazakhstan was the key exporting country with an export of around X tons, which reached X% of total exports. It was distantly followed by Mongolia (X tons), mixing up a X% share of total exports. Uzbekistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest iron ore supplying countries in Central Asia were Kazakhstan ($X), Mongolia ($X) and Uzbekistan ($X).

In terms of the main exporting countries, Uzbekistan, with a CAGR of X%, 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 a decline in the exports figures.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price saw a pronounced reduction. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Mongolia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced a decline in the export price figures.

Iron Ore Imports

Imports in Central Asia

In 2022, purchases abroad of iron ores and concentrates decreased by X% to X tons, falling for the fifth consecutive year after three years of growth. Overall, imports saw a abrupt curtailment. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, iron ore imports reduced remarkably to $X in 2022. In general, imports recorded a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Kyrgyzstan was the main importer of iron ores and concentrates in Central Asia, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2022. It was distantly followed by Turkmenistan (X tons) and Tajikistan (X tons), together committing a X% share of total imports. The following importers - Mongolia (X tons) and Kazakhstan (X tons) - each accounted for a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Tajikistan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron ore importing markets in Central Asia were Tajikistan ($X), Kyrgyzstan ($X) and Mongolia ($X), with a combined X% share of total imports.

Tajikistan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the import price recorded a abrupt slump. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mongolia ($X per ton), while Turkmenistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tajikistan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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