Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Kuwait - 2022

Price for Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Kuwait (CIF) - 2022

The average import price for iron ores and concentrates, agglomerated (excluding roasted iron pyrites) stood at $843 per ton in 2022, with an increase of 15% against the previous year. Overall, the import price, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2018 when the average import price increased by 57% against the previous year. The import price peaked at $3,258 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($898 per ton), while the price for China totaled $782 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.5%).

Imports of Iron Ore and Concentrate, Agglomerated (Excluding Roasted Iron Pyrites) in Kuwait

For the fourth consecutive year, Kuwait recorded growth in supplies from abroad of iron ores and concentrates, agglomerated (excluding roasted iron pyrites), which increased by 12% to 51 tons in 2022. Over the period under review, imports continue to indicate a significant increase. The growth pace was the most rapid in 2020 when imports increased by 63% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, imports of iron ores and concentrates, agglomerated (excluding roasted iron pyrites) skyrocketed to $43K in 2022. In general, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 53% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.