World Trade in Mineral Commodities

INTRODUCTION AND SUMMARY World mineral trade during 1960 to 1984 has shown substantial changes both in value and tonnage. Although fuel commodities dominated total mineral trade during this period, this paper will focus attention primarily on nonfuel minerals. Brazil and Australia, modest producers of iron ore in 1960, have become dominant producers and exporters, together accounting for about half of major iron ore exports in 1984, far surpassing traditional export suppliers such as Sweden. Australia has also become the largest producer and trader of bauxite and alumina, and worldwide alumina trade has increased at the expense of bauxite trade. Similarly, shipments of ferroalloys have increased more than shipments of ores such as those of chromium and manganese. Canada, retaining its first rank in world export of zinc, has become also the leading source of potash and sulfur in world trade, and South Africa has been the dominant factor in chromite, manganese and their respective ferroalloys. Developing countries' share of world copper trade has increased, with Chile maintaining first rank, but developed industrialized countries have continued to dominate production and trade of lead and zinc. Phosphate, sulfur, and potash have been the principal crude nonmetallic minerals traded worldwide. Looking to the near future, dramatic increases in export of iron ore, phosphate, potash and sulfur are not envisaged. Bauxite exports will continue to decline relative to alumina but at a slower rate than in the recent past. Zinc concentrate will continue to be exported but lead will be traded more as metal than as concentrate. For iron and steel, there will be some production shift from traditional producers to certain developing countries and recently industrializing developing countries such as Brazil, India, the Republic of Korea, and Taiwan. In the following sections dealing with specific commodities, it should be understood that information is presented only on the major forms of each commodity that move in trade, and only for a selected group of countries for each commodity or major form of each commodity. Thus, totals shown or mentioned generally represent only the totals of figures presented here and do not include estimates for minor forms of material or for countries that are not listed. However, the data provided is regarded as sufficiently complete to reflect major patterns and trends, and exclusions are there- fore not seen as affecting conclusions that may be drawn from the material provided. FUEL AND NONFUEL TRADE Values of Fuel and Nonfuel Trade The value of world export trade in major mineral commodities (ores, concentrates and scrap, crude minerals, iron and steel, nonferrous metals, nonmetallic minerals and mineral fuels) in 1983, the latest year for which comprehensive data are available, was reported by the United Nations in May 1985 to have totaled over 514 billion current U.S. dollars (Table 1). This was 79% of the historic record high of nearly $649 billion ,current dollars set in 1980, but almost 18 times the current dollar value reported for 1960. [1/] The value of these 1983 exports in constant 1960 dollars was $164 billion (Table 2), only 66% of the record 1980 high of almost $250 billion, and only about 5.7 times the 1960 dollar level.