China’s iron ore and pellet imports have witnessed an increase of 14% M-o-M in May’18. The imports recorded at 94.14 MnT in May’18 compared to 82.92 MnT in Apr’18, according to General Administration of Customs China. The imports took a forward leap due to strong steel margins.
Average global iron ore fines (Fe 62%) prices remained stable on monthly basis at USD 66/MT, CFR China in May’18.
On yearly basis, the imports recorded slight increase from 92.45 MnT in May’17 to 94.14 MnT in May’18.
The total imports for Jan-May’18 witnessed at 447.43 MnT, almost stable on yearly basis against 450.7 MnT in the same duration previous year (Jan-May’17).
Brazil iron ore export shipments to China increased 53% M-o-M
Amidst stricter environmental regulations in China, steel mills prefers Brazil’s (Carajas fines) low alumina high grade iron ore, resulted in enhanced imports from Brazil.
China, largest importer of Brazilian iron ore contributed 63% of total Brazilian exports via sea route in May’18, according to Inchcape Shipping Services, Brazil. The imports recorded a significant increase by 53% M-o-M in May’18 at 20.23 MnT against Apr’18 imports at 13.26 MnT.
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