Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in China - 2023
Contents:
- Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in China (CIF) - 2022
- Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in China (FOB) - 2022
- Imports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in China
- Exports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in China
Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in China (CIF) - 2022
In 2022, the average import price for iron ores and concentrates, agglomerated (excluding roasted iron pyrites) amounted to $163 per ton, waning by -24.9% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 68% against the previous year. As a result, import price reached the peak level of $217 per ton, and then contracted significantly in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ukraine ($208 per ton), while the price for the United States ($113 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in China (FOB) - 2022
In 2022, the average export price for iron ores and concentrates, agglomerated (excluding roasted iron pyrites) amounted to $226 per ton, picking up by 18% against the previous year. Overall, the export price continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2021 when the average export price increased by 42%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($291 per ton), while the average price for exports to Indonesia ($129 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in China
In 2022, overseas purchases of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) decreased by -29.3% to 16M tons, falling for the second year in a row after two years of growth. In general, imports saw a dramatic downturn. The pace of growth was the most pronounced in 2020 with an increase of 38%. As a result, imports reached the peak of 45M tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) declined remarkably to $2.6B in 2022. Overall, imports faced a abrupt slump. The growth pace was the most rapid in 2020 when imports increased by 46% against the previous year. As a result, imports reached the peak of $5.8B. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 1,180 | 1,427 | 1,577 | 744 | -14.3% |
| Iran | 359 | 23.3 | 236 | 321 | -3.7% |
| Australia | 241 | 359 | 502 | 307 | 8.4% |
| Kazakhstan | 214 | 332 | 270 | 280 | 9.4% |
| Canada | 151 | 248 | 445 | 179 | 5.8% |
| Russia | 359 | 541 | 54.4 | 176 | -21.1% |
| Oman | 9.5 | 3.2 | 61.9 | 138 | 144.0% |
| Ukraine | 571 | 1,122 | 960 | 125 | -39.7% |
| Brazil | 687 | 928 | 513 | 93.6 | -48.5% |
| Others | 207 | 815 | 317 | 256 | 7.3% |
| Total | 3,979 | 5,799 | 4,937 | 2,620 | -13.0% |
Top Suppliers of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) to China in 2022:
- India (4.2M tons)
- Iran (2.3M tons)
- Kazakhstan (2.2M tons)
- Australia (1.7M tons)
- Russia (1.3M tons)
- Canada (0.9M tons)
- Oman (0.8M tons)
- Ukraine (0.6M tons)
- Brazil (0.5M tons)
Exports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in China
Exports of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) from China totaled 1.6M tons in 2022, increasing by 1.9% on the previous year. The total export volume increased at an average annual rate of +4.9% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 23%. As a result, the exports reached the peak of 1.7M tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) soared to $361M in 2022. Overall, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +19.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.2% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by 31%. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the near future.
| Export of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 40.0 | 88.9 | 215 | 174 | 63.2% |
| Vietnam | N/A | N/A | N/A | 86.9 | 0% |
| Japan | 135 | 86.5 | 46.7 | 58.6 | -24.3% |
| Italy | N/A | N/A | N/A | 15.6 | 0% |
| South Korea | 17.1 | 20.3 | 37.8 | 11.4 | -12.6% |
| Croatia | N/A | N/A | N/A | 10.2 | 0% |
| Indonesia | N/A | 3.1 | N/A | 5.1 | 28.3% |
| Malaysia | 17.9 | 30.7 | N/A | N/A | 71.5% |
| Others | 0.3 | N/A | N/A | N/A | 0% |
| Total | 210 | 230 | 300 | 361 | 19.8% |
Top Export Markets for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) from China in 2022:
- Taiwan (Chinese) (768.8K tons)
- Vietnam (420.1K tons)
- Japan (204.4K tons)
- South Korea (69.0K tons)
- Italy (53.5K tons)
- Croatia (45.1K tons)
- Indonesia (39.6K tons)
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This report provides an in-depth analysis of the iron ore market in China.
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