Price for Iron Ore and Concentrate, Non-Agglomerated in Australia - 2023
Contents:
- Price for Iron Ore and Concentrate, Non-Agglomerated in Australia (FOB) - 2022
- Price for Iron Ore and Concentrate, Non-Agglomerated in Australia (CIF) - 2023
- Exports of Iron Ore and Concentrate, Non-Agglomerated in Australia
- Imports of Iron Ore and Concentrate, Non-Agglomerated in Australia
Price for Iron Ore and Concentrate, Non-Agglomerated in Australia (FOB) - 2022
The average export price for iron ores and concentrates, non-agglomerated stood at $97 per ton in 2022, reducing by -26.8% against the previous year. In general, the export price showed a slight decline. The most prominent rate of growth was recorded in 2021 an increase of 45% against the previous year. As a result, the export price reached the peak level of $133 per ton, and then declined notably in the following year.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Taiwan (Chinese) ($112 per ton) and Japan ($105 per ton), while the average price for exports to China ($96 per ton) and South Korea ($101 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (-0.2%), while the prices for the other major destinations experienced a decline.
Price for Iron Ore and Concentrate, Non-Agglomerated in Australia (CIF) - 2023
The average import price for iron ores and concentrates, non-agglomerated stood at $118 per ton in July 2023, dropping by -95.8% against the previous month. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in March 2023 when the average import price increased by 4,977% month-to-month. As a result, import price reached the peak level of $7,309 per ton. From April 2023 to July 2023, the average import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for Mauritania.
From July 2022 to July 2023, the rate of growth in terms of prices for Mauritania amounted to -0.9% per month.
Exports of Iron Ore and Concentrate, Non-Agglomerated in Australia
For the fourth consecutive year, Australia recorded growth in overseas shipments of iron ores and concentrates, non-agglomerated, which increased by 1.4% to 881M tons in 2022. The total export volume increased at an average annual rate of +1.8% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 3.9%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.
In value terms, iron ore and concentrate, non-agglomerated exports shrank notably to $85.6B in 2022. In general, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +8.8% 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 +28.6% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 45% against the previous year. As a result, the exports reached the peak of $115.2B, and then dropped rapidly in the following year.
| Export of Iron Ore and Concentrate, Non-Agglomerated in Australia (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 54.7 | 63.7 | 94.2 | 71.4 | 9.3% |
| Japan | 5.0 | 4.6 | 8.6 | 6.0 | 6.3% |
| South Korea | 4.2 | 4.5 | 7.4 | 4.8 | 4.6% |
| Taiwan (Chinese) | 1.3 | 1.3 | 2.5 | 1.7 | 9.4% |
| Others | 1.4 | 5.4 | 2.5 | 1.7 | 6.7% |
| Total | 66.5 | 79.5 | 115 | 85.6 | 8.8% |
Top Export Markets for Iron Ore and Concentrate, Non-Agglomerated from Australia in 2022:
- China (744.1M tons)
- Japan (57.3M tons)
- South Korea (47.3M tons)
- Taiwan (Chinese) (14.9M tons)
Imports of Iron Ore and Concentrate, Non-Agglomerated in Australia
In 2022, approx. 1M tons of iron ores and concentrates, non-agglomerated were imported into Australia; rising by 20% on 2021. The total import volume increased at an average annual rate of +8.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, iron ore and concentrate, non-agglomerated imports reduced slightly to $140M in 2022. Overall, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 72%. As a result, imports reached the peak of $143M, and then shrank slightly in the following year.
| Import of Iron Ore and Concentrate, Non-Agglomerated in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mauritania | 66.8 | 77.9 | 139 | 135 | 26.4% |
| China | N/A | N/A | N/A | 4.8 | 0% |
| South Africa | 5.9 | 5.3 | 4.0 | N/A | -17.7% |
| Others | 6.1 | 0.1 | 0.1 | 0.1 | -74.6% |
| Total | 78.8 | 83.3 | 143 | 140 | 21.1% |
Top Suppliers of Iron Ore and Concentrate, Non-Agglomerated to Australia in 2022:
- Mauritania (1003.7K tons)
- China (33.1K tons)
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