Eastern Asia: Iron Ore Market 2021

Iron Ore Market Size in Eastern Asia

In 2019, the East Asian iron ore market increased by X% to $X, rising for the third consecutive year after three years of decline. In general, consumption continues to indicate prominent growth. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2019, consumption remained at a lower figure.

Iron Ore Production in Eastern Asia

In value terms, iron ore production declined rapidly to $X in 2019 estimated in export prices. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 when the production volume increased by X% y-o-y. The level of production peaked at $X in 2012; however, from 2013 to 2019, production failed to regain the momentum.

Production By Country in Eastern Asia

China (X tons) remains the largest iron ore producing country in Eastern Asia, accounting for X% of total volume.

In China, iron ore production increased at an average annual rate of +X% over the period from 2007-2019.

Iron Ore Exports

Exports in Eastern Asia

In 2019, overseas shipments of iron ores increased by X% to X tons, rising for the fourth consecutive year after two years of decline. Overall, exports continue to indicate a strong expansion. As a result, exports attained the peak and are likely to continue growth in the immediate term.

In value terms, iron ore exports skyrocketed to $X in 2019. Over the period under review, exports saw a significant expansion. As a result, exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2019, China (X tons) was the largest exporter of iron ores, achieving X% of total exports. It was distantly followed by Democratic People's Republic of Korea (X tons), committing a X% share of total exports.

China was also the fastest-growing in terms of the iron ores exports, with a CAGR of +X% from 2007 to 2019. At the same time, Democratic People's Republic of Korea (+X%) displayed positive paces of growth. From 2007 to 2019, the share of China increased by +X% percentage points, while Democratic People's Republic of Korea (-X p.p.) saw their share reduced.

In value terms, China ($X) remains the largest iron ore supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was occupied by Democratic People's Republic of Korea ($X), with a X% share of total exports.

From 2007 to 2019, the average annual growth rate of value in China totaled +X%.

Export Prices by Country

In 2019, the iron ore export price in Eastern Asia amounted to $X per ton, shrinking by -X% against the previous year. Overall, the export price, however, continues to indicate a mild increase. The pace of growth was the most pronounced in 2010 when the export price increased by X% y-o-y. Over the period under review, export prices reached the peak figure at $X per ton in 2011; however, from 2012 to 2019, export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2019, the country with the highest price was China ($X per ton), while Democratic People's Republic of Korea amounted to $X per ton.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Democratic People's Republic of Korea.

Iron Ore Imports

Imports in Eastern Asia

In 2019, approx. X tons of iron ores were imported in Eastern Asia; leveling off at 2018 figures. Total imports indicated a buoyant increase 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, 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 maximum in 2019 and are likely to see gradual growth in the near future.

In value terms, iron ore imports rose markedly to $X in 2019. Overall, imports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2011 with an increase of X% y-o-y. The level of import peaked at $X in 2013; however, from 2014 to 2019, imports stood at a somewhat lower figure.

Imports by Country

China prevails in iron ore imports structure, finishing at X tons, which was near X% of total imports in 2019. Japan (X tons) ranks second in terms of the total imports with a X% share, followed by South Korea (X%). Taiwan (Chinese) (X tons) held a minor share of total imports.

China was also the fastest-growing in terms of the iron ores imports, with a CAGR of +X% from 2007 to 2019. At the same time, South Korea (+X%) and Taiwan (Chinese) (+X%) displayed positive paces of growth. By contrast, Japan (-X%) illustrated a downward trend over the same period. From 2007 to 2019, the share of China increased by +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 ($X) constitutes the largest market for imported iron ores in Eastern Asia, comprising X% of total imports. The second position in the ranking was occupied by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

In China, iron ore imports increased at an average annual rate of +X% over the period from 2007-2019. In the other countries, the average annual rates were as follows: Japan (+X% per year) and South Korea (+X% per year).

Import Prices by Country

The iron ore import price in Eastern Asia stood at $X per ton in 2019, picking up by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2011 when the import price increased by X% year-to-year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2019, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2019, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and Japan ($X per ton), while China ($X per ton) and South Korea ($X per ton) were 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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