Middle East: Iron Ore Market 2021

Iron Ore Market Size in the Middle East

The Middle Eastern iron ore market rose modestly to $X in 2019, growing by X% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 when the market value increased by X% year-to-year. The level of consumption peaked at $X in 2013; however, from 2014 to 2019, consumption remained at a lower figure.

Iron Ore Production in the Middle East

In value terms, iron ore production soared to $X in 2019 estimated in export prices. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. The level of production peaked at $X in 2013; however, from 2014 to 2019, production stood at a somewhat lower figure.

Production By Country in the Middle East

Iran (X tons) remains the largest iron ore producing country in the Middle East, accounting for X% of total volume. Moreover, iron ore production in Iran exceeded the figures recorded by the second-largest producer, Turkey (X tons), sixfold.

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

Iron Ore Exports

Exports in the Middle East

In 2019, approx. X tons of iron ores were exported in the Middle East; leveling off at the year before. Overall, exports showed a prominent expansion. The growth pace was the most rapid in 2008 when exports increased by X% against the previous year. Over the period under review, exports reached the peak figure at X tons in 2017; however, from 2018 to 2019, exports stood at a somewhat lower figure.

In value terms, iron ore exports expanded to $X in 2019. In general, exports enjoyed a remarkable increase. The growth pace was the most rapid in 2008 when exports increased by X% y-o-y. The level of export peaked at $X in 2011; however, from 2012 to 2019, exports remained at a lower figure.

Exports by Country

Iran represented the major exporting country with an export of about X tons, which accounted for X% of total exports. Bahrain (X tons) held a X% share (based on tons) of total exports, which put it in second place, followed by Oman (X%), the United Arab Emirates (X%) and Turkey (X%).

From 2007 to 2019, the biggest increases were in the United Arab Emirates, while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest iron ore supplying countries in the Middle East were Iran ($X), Oman ($X) and Bahrain ($X), together comprising X% of total exports. The United Arab Emirates and Turkey lagged somewhat behind, together comprising a further X the main exporting countries, the United Arab Emirates saw 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

The iron ore export price in the Middle East stood at $X per ton in 2019, growing by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 an increase of X% against the previous year. As a result, export price reached the peak level of $X per ton. From 2012 to 2019, the growth in terms of the export prices failed to regain the momentum.

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

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Iran, while the other leaders experienced a decline in the export price figures.

Iron Ore Imports

Imports in the Middle East

In 2019, imports of iron ores in the Middle East reduced to X tons, declining by -X% against the previous year's figure. Total imports indicated perceptible growth from 2007 to 2019: its volume 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, imports decreased by -X% against 2017 indices. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2019, imports stood at a somewhat lower figure.

In value terms, iron ore imports expanded significantly to $X in 2019. Over the period under review, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2011 when imports increased by X% year-to-year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2019, imports remained at a lower figure.

Imports by Country

Bahrain (X tons), Turkey (X tons), Saudi Arabia (X tons) and Oman (X tons) represented roughly X% of total imports of iron ores in 2019. Qatar (X tons) occupied the next position in the ranking, followed by the United Arab Emirates (X tons). All these countries together held near X% share of total imports.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Oman, while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron ore importing markets in the Middle East were Saudi Arabia ($X), Turkey ($X) and Bahrain ($X), together comprising X% of total imports. These countries were followed by Oman, Qatar and the United Arab Emirates, which together accounted for a further X terms of the main importing countries, Oman saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the iron ore import price in the Middle East amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price recorded notable growth. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. The level of import peaked at $X per ton in 2013; however, from 2014 to 2019, import prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Qatar ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Oman, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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