Japan Iron Ore Industry Outlook 2024 - 2028

See how Japan Iron Ore performed compared to key markets such as China and South Korea.

Key Market Indicators

**Japanese Iron Ore Import Projected to Fall by 2028** Japan's iron ore imports are projected to decline to approximately $9.9 billion by 2028, down from around $10.1 billion in 2023, representing a 0.4% annual decrease, according to recent forecasts. Despite this anticipated drop, Japan has experienced a 1.7% yearly increase in demand for iron ore since 1993. In 2023, Japan held the second position globally in iron ore imports, just behind China, which led with the same import value of around $10.1 billion. South Korea and Germany followed Japan, securing the third and fourth positions, respectively. **Japanese Iron Ore Exports Expected to Decrease Significantly** Japan's iron ore exports are expected to significantly decrease to roughly $55,000 by 2028, down from about $73,000 in 2023. This decline translates to an average annual reduction of 4.4%. Historically, since 1993, Japan's iron ore supply has consistently fallen by 7.3% each year. In 2023, Japan ranked 39th in the world for iron ore exports, with Switzerland just ahead at the same export value of around $73,000. Brazil, Canada, and South Africa occupied the second, third, and fourth positions, respectively, in this global ranking.

Japan Iron Ore Market Data and Forecasts

Japan Iron Ore : how will it grow in the coming years?

Forecast: Import of Iron Ores and Concentrates to Japan
Forecast: Import of Iron and Steel to Japan
Forecast: Import of Unroasted Iron Pyrites to Japan
Forecast: Import of Iron Ores and Concentrates to Japan
Forecast: Import of Agglomerated Iron Ore and Concentrate to Japan
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