Report Update: May 1, 2024

Indonesia - Iron Ores And Concentrates - Market Analysis, Forecast, Size, Trends And Insights

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Iron Ore Price in Indonesia - 2022

Iron Ore Price in Indonesia (CIF) - 2022

The average iron ore import price stood at $115 per ton in 2022, declining by -24.4% against the previous year. Overall, the import price showed a noticeable shrinkage. The growth pace was the most rapid in 2021 when the average import price increased by 50%. Over the period under review, average import prices reached the maximum at $190 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($194 per ton), while the price for Australia ($110 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Iron Ore Price in Indonesia (FOB) - 2022

The average iron ore export price stood at $41.0 per ton in March 2022, jumping by 162% against the previous month. Overall, the export price, however, saw a abrupt curtailment. The pace of growth was the most pronounced in August 2021 an increase of 186% against the previous month. Over the period under review, the average export prices hit record highs at $105 per ton in March 2021; however, from April 2021 to March 2022, the export prices failed to regain momentum.

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

From March 2021 to March 2022, the rate of growth in terms of prices for China amounted to -7.5% per month.

Iron Ore Imports in Indonesia

Iron ore imports into Indonesia surged to 13M tons in 2022, increasing by 28% compared with 2021 figures. In general, imports posted a significant increase. The growth pace was the most rapid in 2021 when imports increased by 46%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, iron ore imports declined modestly to $1.4B in 2022. Over the period under review, imports enjoyed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 119%. As a result, imports reached the peak of $1.5B, and then contracted slightly in the following year.

Import of Iron Ore in Indonesia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Australia	326	454	975	1,190	54.0%
India	20.9	38.2	118	98.2	67.5%
Canada	21.1	37.6	56.3	53.8	36.6%
Brazil	32.6	102	222	31.4	-1.2%
Others	29.8	49.7	123	71.0	33.6%
Total	430	682	1,494	1,445	49.8%

Top Suppliers of Iron Ore to Indonesia in 2022:

Australia (10.8M tons)
Canada (0.5M tons)
India (0.5M tons)
Brazil (0.3M tons)

Iron Ore Exports in Indonesia

After three years of growth, shipments abroad of iron ores and concentrates decreased by -89.1% to 300K tons in 2022. In general, exports faced a dramatic decline. The most prominent rate of growth was recorded in 2021 when exports increased by 60% against the previous year. As a result, the exports reached the peak of 2.7M tons, and then declined rapidly in the following year.

In value terms, iron ore exports contracted significantly to $19M in 2022. Over the period under review, exports recorded a significant contraction. The pace of growth was the most pronounced in 2021 with an increase of 29%. As a result, the exports reached the peak of $175M, and then contracted markedly in the following year.

Export of Iron Ore in Indonesia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	90.1	108	131	13.6	-46.8%
Philippines	0.7	5.7	7.2	0.9	8.7%
Australia	0.5	0.4	5.9	0.3	-15.7%
Others	21.6	21.0	30.0	3.8	-44.0%
Total	113	136	175	18.6	-45.2%

Top Export Markets for Iron Ore from Indonesia in 2022:

China (224.9K tons)
Australia (40.6K tons)
Philippines (27.1K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the iron ore market in Indonesia. 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:

Indonesia

Data coverage:

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

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

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
How to reduce your production and supply chain costs
How to outsource production to other countries
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