Japan: Iron Ore Import Drops 8% in June’18

Japan, the second largest iron ore importer of the world, recorded iron ore imports at 10.69 MnT in June’18 as against 11.61 MnT in May’18. However, on yearly basis, imports stood in line with June’17 imports at 10.63 MnT.

For the quarter ending June’18, iron ore imports witnessed at 32.21 MnT in Q2 CY’18. The imports witnessed an increase of 5% as against 30.71 MnT in last quarter. On yearly basis, the imports witnessed marginal decline as against 32.76 MnT in Q2 CY’17.

Japan’s Crude Steel output fell in June’18

In June’18, Japan’s crude steel output decreased by 4% to 8.76 MnT in June’18 against 9.09 MnT in May’18.On yearly basis, the output increased by 4% compared to June’17 imports at 8.41.

The non-agglomerated (fines/lump) iron ore imports in June’18 witnessed at 9.38 MnT, down 8% M-o-M as against May’18 imports at 10.15 MnT. On yearly basis, imports stood almost in line with June’17 imports at 9.23 MnT.

Agglomerated (pellets/concentrate) imports recorded at 1.32 MnT in June’18, down 9% M-o-M as against 1.45 MnT in May’18. The agglomerated ore imports in June’18 stood 5% down on yearly basis as against 1.39 MnT in June’17.

Indian iron ore exports to Japan declined 51% in Q2 CY’18

Indian exports for the quarter declined by 51% to 0.46 MnT in Q2 CY’18. This is owing to  nil exports by NMDC for the complete quarter owing to expiry of LTA (Long Term Agreement). For the quarter Q2 CY’18, Australia stood the largest exporter at 18.44 MnT (in line with last quarter), followed by Brazil at 9.44 MnT (up 25% Q-o-Q).

Australia continues to remain the largest iron ore exporter to Japan in the month of June’18 with total quantity of 6.39 MnT, (up 5% on monthly basis) contributing 60% share of total Japanese import, followed by Brazil at 3.1 MnT (down 26% M-o-M).

Country Wise Iron Ore Import

Quantity in MnT
Source: Japan Customs
Provisional Data