Price for Iron Ore and Concentrate, Non-Agglomerated in Ecuador - 2021

Price for Iron Ore and Concentrate, Non-Agglomerated in Ecuador (CIF) - 2022

The average import price for iron ores and concentrates, non-agglomerated stood at $461 per ton in 2022, falling by -18.2% against the previous year. Overall, the import price, however, continues to indicate a strong expansion. The pace of growth was the most pronounced in 2013 when the average import price increased by 380% against the previous year. The import price peaked at $1,287 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($479 per ton), while the price for France totaled $131 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.0%), while the prices for the other major suppliers experienced a decline.

Price for Iron Ore and Concentrate, Non-Agglomerated in Ecuador (FOB) - 2022

The average export price for iron ores and concentrates, non-agglomerated stood at $899 per ton in 2022, which is down by -78.7% against the previous year. In general, the export price, however, posted a significant expansion. The growth pace was the most rapid in 2021 when the average export price increased by 467% against the previous year. As a result, the export price reached the peak level of $4,229 per ton, and then reduced sharply in the following year.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2012 to 2022, the rate of growth in terms of prices for Canada amounted to +21.8% per year.

Imports of Iron Ore and Concentrate, Non-Agglomerated in Ecuador

In 2022, the amount of iron ores and concentrates, non-agglomerated imported into Ecuador rose notably to 165 tons, picking up by 7.8% against the previous year's figure. Overall, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 123% against the previous year. As a result, imports attained the peak of 184 tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, iron ore and concentrate, non-agglomerated imports contracted to $76K in 2022. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +14.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 31%.

Import of Iron Ore and Concentrate, Non-Agglomerated in Ecuador (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	45.8	2.2	76.7	72.2	16.4%
France	2.7	10.6	2.3	1.6	-16.0%
Peru	N/A	43.6	N/A	N/A	0%
Others	1.7	9.5	7.3	2.2	9.0%
Total	50.2	65.9	86.2	76.1	14.9%

Top Suppliers of Iron Ore and Concentrate, Non-Agglomerated to Ecuador in 2022:

United States (150.9 tons)
France (12.5 tons)

Exports of Iron Ore and Concentrate, Non-Agglomerated in Ecuador

In 2022, overseas shipments of iron ores and concentrates, non-agglomerated were finally on the rise to reach 2.9 tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a abrupt slump.

In value terms, iron ore and concentrate, non-agglomerated exports dropped to $2.6K in 2022. Over the period under review, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +16.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 34%. As a result, the exports reached the peak of $3K, and then dropped in the following year.