EU: Iron Ore Market 2021

Iron Ore Market Size in the EU

The EU iron ore market declined to $X in 2019, falling by -X% against the previous year. In general, consumption showed a noticeable decrease. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Over the period under review, the market hit record highs at $X in 2011; however, from 2012 to 2019, consumption failed to regain the momentum.

Iron Ore Production in the EU

In value terms, iron ore production rose significantly to $X in 2019 estimated in export prices. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 when the production volume increased by X% year-to-year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2019, production failed to regain the momentum.

Production By Country in the EU

Sweden (X tons) remains the largest iron ore producing country in the European Union, accounting for X% of total volume. Moreover, iron ore production in Sweden exceeded the figures recorded by the second-largest producer, Austria (X tons), ninefold.

From 2007 to 2019, the average annual rate of growth in terms of volume in Sweden was relatively modest. In the other countries, the average annual rates were as follows: Austria (+X% per year) and Germany (+X% per year).

Iron Ore Exports

Exports in the EU

In 2019, shipments abroad of iron ores decreased by -X% to X tons for the first time since 2015, thus ending a three-year rising trend. Total exports indicated moderate growth from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2010 with an increase of X% year-to-year. The volume of export peaked at X tons in 2018, and then shrank in the following year.

In value terms, iron ore exports expanded notably to $X in 2019. In general, exports, however, showed buoyant growth. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Over the period under review, exports attained the peak figure at $X in 2011; however, from 2012 to 2019, exports remained at a lower figure.

Exports by Country

Sweden was the major exporter of iron ores in the European Union, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2019. It was distantly followed by Finland (X tons), comprising a X% share of total exports.

Exports from Sweden increased at an average annual rate of +X% from 2007 to 2019. At the same time, Finland (+X%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +X% from 2007-2019. Finland (+X p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by -X% from 2007 to 2019, respectively.

In value terms, Sweden ($X) remains the largest iron ore supplier in the European Union, comprising X% of total exports. The second position in the ranking was occupied by Finland ($X), with a X% share of total exports.

From 2007 to 2019, the average annual growth rate of value in Sweden totaled +X%.

Export Prices by Country

In 2019, the iron ore export price in the European Union amounted to $X per ton, jumping by X% against the previous year. Export price indicated noticeable growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, iron ore export price increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2008 when the export price increased by X% year-to-year. Over the period under review, export prices hit record highs at $X per ton in 2012; however, from 2013 to 2019, export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2019, the country with the highest price was Finland ($X per ton), while Sweden stood at $X per ton.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Finland.

Iron Ore Imports

Imports in the EU

In 2019, iron ore imports in the European Union contracted to X tons, declining by -X% on 2018 figures. In general, imports continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2007; however, from 2008 to 2019, imports remained at a lower figure.

In value terms, iron ore imports reached $X in 2019. Over the period under review, imports showed a slight downturn. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. The level of import peaked at $X in 2011; however, from 2012 to 2019, imports failed to regain the momentum.

Imports by Country

In 2019, Germany (X tons) represented the main importer of iron ores, mixing up X% of total imports. France (X tons) held the second position in the ranking, followed by the Netherlands (X tons), the UK (X tons), Poland (X tons), Belgium (X tons), Slovakia (X tons), Spain (X tons), the Czech Republic (X tons) and Italy (X tons). All these countries together held approx. X% share of total imports.

Imports into Germany decreased at an average annual rate of -X% from 2007 to 2019. Slovakia and Spain experienced a relatively flat trend pattern. Poland (-X%), the Czech Republic (-X%), the Netherlands (-X%), Belgium (-X%), France (-X%), the UK (-X%) and Italy (-X%) illustrated a downward trend over the same period. While the share of Germany (+X p.p.) and Slovakia (+X p.p.) increased significantly in terms of the total imports from 2007-2019, the share of the UK (-X p.p.) and Italy (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported iron ores in the European Union, comprising X% of total imports. The second position in the ranking was occupied by France ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value in Germany amounted to +X%. In the other countries, the average annual rates were as follows: France (-X% per year) and the Netherlands (-X% per year).

Import Prices by Country

The iron ore import price in the European Union stood at $X per ton in 2019, rising by X% against the previous year. Import price indicated a noticeable increase from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, iron ore import price increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2011 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2012 to 2019, the growth in terms of the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2019, the country with the highest price was Germany ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Spain, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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