Key Market Indicators
Korean iron ore import is set to reach $5.4 billion by 2026. This is a 0.1% increase from 2021, when it was valued at $5.4 billion. Since 1993, demand has grown by 5.8% a year on year. In 2021, South Korea came in third, with Japan overtaking at $5.4 billion, followed by Germany. Meanwhile, Korean iron ore export skyrocketed by 170% from 2017 to 2018. It jumped from $57 million to $154 million. Since 2000, supply has decreased by almost 60% year on year. In 2018, South Korea was in 52nd place, with Switzerland overtaking at $154 million. Brazil, Canada and South Africa were the next three in the ranking.
