World’s largest consumer of iron ore, China recorded iron ore & pellets imports at 270.37 MnT, according to Customs data maintained with SteelMint. Chinese iron ore (including pellets) imports in Q1 CY’18 witnessed marginal increase Q-o-Q as compared to 258.01 MnT in Q4 CY’17. China iron ore & pellets imports in Mar’18 marked at 85.79 MnT , almost in line with Feb’18 at 84.26 MnT.
Non-agglomerated iron ore (pellets and concentrate) imports depicted 11% rise Q-o-Q to 5.43 MnT in Q1 CY’18 compared to 4.88 MnT in Q4 CY’17. The Y-o-Y imports recorded slight decline in Q1 CY’18 as against 5.6 MnT in Q1 CY’17.
China’s pellet imports from India fell to 1.84 MnT in Q1 CY18 as against 2.63 MnT in Q4 CY17. Compared to Q1 CY17, Indian pellet exports to China fell by 35%.
However China’s pellet imports from Brazil has increased considerably. China imported 0.9 MnT pellets from Brazil in Q1 CY18 as against 0.33 MnT in Q4 CY17 and 0.37 MnT in Q1 CY17. On yearly basis, Vale’s pellet production was up at 12.78 MnT in Q1 CY18 against 12.42 MnT in Q1 CY17 mainly due to the restart of Tubarão II pellet plant. Further, Tubarao I and Sao Luis pellet plants are expected to restart by second and third quarter respectively in CY’18, with an expected enhanced production in CY’18.
Other major sources for pellets to China in Q1 CY18 were US, Ukraine and Australia.
China’s agglomerated iron ore (lumps & fines) imports witnessed increase of 5% in Q1 CY’18 to 264.93 MnT as against 253.13 MnT in Q4 CY’17. The Y-o-Y imports recorded marginal decline in Q1 CY’18 as against 270.42 MnT in Q1 CY’17.
Australia iron ore exports to China up marginally Q-o-Q
Australia iron ore exports to China registered at 172.85 MnT in Q1 CY’18, up 6% Q-o-Q, contributing 64% of total iron ore import share as against 162.83 MnT in Q4 CY’17. Brazil, stood the second largest exporter at 55.15 MnT (down 6% Q-o-Q), and South Africa at 11.52 MnT (up 9% Q-o-Q). Indian iron ore (including pellet) exports to China surged by 42% Q-o-Q to 4.93 MnT, owing to increased exports from Goa in Q1 CY18.
Iron ore imports from Peru, Chile and Mauritania depicted significant growth in Q1 CY’18 at 4.48 MnT, 2.86 MnT and 1.9 MnT respectively.
In Mar’18, Australia stood largest exporter at 56.92 MnT, up 11% M-o-M, accounting for 66% of total imports share. Brazil marked the second largest exporter at 15.9 MnT (down 19% M-o-M), followed by South Africa at 3.68 MnT (up 14%). Brazil recorded a decline in exports owing to halt in in Minas Rio iron ore mines, Anglo American from 12th Mar’18 to 26th Mar’18 due to iron ore leakage on pipeline.
China Country-wise Iron Ore & pellet Import:
| Country | Mar’18 | Feb’18 | M-o-M (%) | Q1 CY’18 | Q4 CY’17 | Q-o-Q (%) |
| Australia | 56.92 | 51.39 | 11% | 172.85 | 162.83 | 6% |
| Brazil | 15.9 | 19.64 | -19% | 55.15 | 58.47 | -6% |
| South Africa | 3.68 | 3.23 | 14% | 11.52 | 10.53 | 9% |
| Iran | 1.73 | 1.38 | 25% | 5.15 | 4.43 | 16% |
| India | 1.8 | 1.41 | 28% | 4.93 | 3.47 | 42% |
| Peru | 1.39 | 1.83 | -24% | 4.48 | 2.32 | 93% |
| Chile | 0.54 | 1.27 | -57% | 2.86 | 1.6 | 79% |
| Canada | 0.37 | 0.8 | -54% | 2.16 | 2.04 | 6% |
| Mauritania | 0.62 | 0.69 | -10% | 1.9 | 0 | 100% |
| Other | 2.83 | 2.61 | 8% | 9.35 | 12.33 | -24% |
| Grand Total | 85.79 | 84.26 | 2% | 270.37 | 258.01 | 5% |
Quantity in MnT
Source: China Customs
Provisional Data
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