Sweden: Iron Ore Market 2021

Iron Ore Market Size in Sweden

The Swedish iron ore market was finally on the rise to reach $X in 2019, after six years of decline. Overall, consumption, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2008 with an increase of X% year-to-year. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2019, consumption stood at a somewhat lower figure.

Iron Ore Production in Sweden

In value terms, iron ore production expanded notably to $X in 2019 estimated in export prices. In general, production showed a measured expansion. The most prominent rate of growth was recorded in 2008 when the production volume increased by X% y-o-y. Iron ore production peaked at $X in 2012; however, from 2013 to 2019, production remained at a lower figure.

Iron Ore Exports

Exports from Sweden

In 2019, overseas shipments of iron ores decreased by -X% to X tons for the first time since 2015, thus ending a three-year rising trend. Over the period under review, total exports indicated a mild increase 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 when exports increased by X% year-to-year. Over the period under review, exports attained the maximum at X tons in 2014; however, from 2015 to 2019, exports failed to regain the momentum.

In value terms, iron ore exports expanded remarkably to $X in 2019. In general, exports, however, posted a perceptible increase. The growth pace was the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, exports reached the maximum at $X in 2011; however, from 2012 to 2019, exports remained at a lower figure.

Exports by Country

Germany (X tons), the Netherlands (X tons) and Saudi Arabia (X tons) were the main destinations of iron ore exports from Sweden, together accounting for X% of total exports. The UK, Finland, China, Turkey, Qatar, Egypt and the United Arab Emirates lagged somewhat behind, together comprising a further X 2007 to 2019, the biggest increases were in China (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Saudi Arabia ($X) and the UK ($X) appeared to be the largest markets for iron ore exported from Sweden worldwide, together comprising X% of total exports. Finland, the Netherlands, Qatar, the United Arab Emirates, Turkey, Egypt and China lagged somewhat behind, together comprising a further X terms of the main countries of destination, China (+X% per year) saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average iron ore export price stood at $X per ton in 2019, growing by X% against the previous year. Over the period under review, the export price showed a temperate expansion. The pace of growth appeared the most rapid in 2008 an increase of X% y-o-y. Over the period under review, average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2019, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2019, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Qatar, while the prices for the other major destinations experienced more modest paces of growth.

Iron Ore Imports

Imports into Sweden

In 2019, after five years of growth, there was significant decline in purchases abroad of iron ores, when their volume decreased by -X% to X tons. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 with an increase of X% against the previous year. Imports peaked at X tons in 2018, and then reduced notably in the following year.

In value terms, iron ore imports fell sharply to $X in 2019. Overall, imports showed a noticeable downturn. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018, and then dropped notably in the following year.

Imports by Country

In 2019, Finland (X tons) constituted the largest supplier of iron ore to Sweden, with a X% share of total imports. Moreover, iron ore imports from Finland exceeded the figures recorded by the second-largest supplier, Norway (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from Finland amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-X% per year) and Germany (+X% per year).

In value terms, Finland ($X) constituted the largest supplier of iron ore to Sweden, comprising X% of total imports. The second position in the ranking was occupied by Norway ($X), with a X% share of total imports. It was followed by Switzerland, with a X% share.

From 2007 to 2019, the average annual growth rate of value from Finland stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-X% per year) and Switzerland (+X% per year).

Import Prices by Country

In 2019, the average iron ore import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2009 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2010 to 2019, the growth in terms of the average import prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Switzerland ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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