Price for Iron Ore and Concentrate, Non-Agglomerated in Canada - 2023

Contents:

1. Price for Iron Ore and Concentrate, Non-Agglomerated in Canada (FOB) - 2023
2. Price for Iron Ore and Concentrate, Non-Agglomerated in Canada (CIF) - 2022
3. Exports of Iron Ore and Concentrate, Non-Agglomerated in Canada
4. Imports of Iron Ore and Concentrate, Non-Agglomerated in Canada

Price for Iron Ore and Concentrate, Non-Agglomerated in Canada (FOB) - 2023

The average export price for iron ores and concentrates, non-agglomerated stood at $97.1 per ton in June 2023, dropping by -8.6% against the previous month. In general, the export price recorded a slight curtailment. The pace of growth appeared the most rapid in December 2022 an increase of 16% month-to-month. Over the period under review, the average export prices hit record highs at $118 per ton in April 2023; however, from May 2023 to June 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In June 2023, the country with the highest price was South Korea ($134 per ton), while the average price for exports to France ($66.0 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

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

The average import price for iron ores and concentrates, non-agglomerated stood at $204 per ton in 2022, surging by 11% against the previous year. In general, the import price, however, continues to indicate a mild reduction. The pace of growth appeared the most rapid in 2021 when the average import price increased by 30% against the previous year. The import price peaked at $226 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Sweden ($229 per ton) and the United States ($224 per ton), while the price for Australia ($160 per ton) and Mexico ($165 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

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

In 2022, exports of iron ores and concentrates, non-agglomerated from Canada totaled 40M tons, growing by 2.8% against 2021. The total export volume increased at an average annual rate of +3.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 7.5%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, iron ore and concentrate, non-agglomerated exports contracted significantly to $4.4B in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +11.8% 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 +39.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 36% against the previous year. As a result, the exports attained the peak of $5.4B, and then reduced markedly in the following year.

Top Export Markets for Iron Ore and Concentrate, Non-Agglomerated from Canada in 2022:

1. China (13.5M tons)
2. Japan (5.0M tons)
3. South Korea (4.7M tons)
4. Germany (4.4M tons)
5. Netherlands (2.9M tons)
6. France (2.5M tons)
7. Belgium (2.2M tons)
8. United Kingdom (1.4M tons)

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

In 2022, imports of iron ores and concentrates, non-agglomerated into Canada contracted sharply to 106K tons, declining by -22.5% against 2021 figures. In general, imports, however, posted measured growth. The pace of growth appeared the most rapid in 2021 when imports increased by 179%. As a result, imports reached the peak of 137K tons, and then plummeted in the following year.

In value terms, iron ore and concentrate, non-agglomerated imports contracted to $22M in 2022. Over the period under review, imports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of 262% against the previous year. As a result, imports reached the peak of $25M, and then shrank in the following year.

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

1. United States (61.9K tons)
2. Australia (34.3K tons)
3. Sweden (10.0K tons)

Source: IndexBox Market Intelligence Platform