As we have reported earlier, China iron ore imports decreases by 10% in Feb’16. The world’s largest consumer of iron ore, China has imported 73.6 MnT in Feb’16. China imports more than two third of seaborne iron ore.
The country imports majority of iron ore from Australia, Brazil and South Africa. Among total imports in Jan’16, Australia contributed 61%, Brazil 23% and South Africa contributed 3.9%.
China’s iron ore imports increased on Y-o-Y in Feb’16, despite a week-long Chinese New Year holiday. In Feb’15, imports were around 67.9 MnT.
Exports from Australia was registered at 45.1 MnT, increased by 5% Y-o-Y as it was 42.9 MnT in Feb’15. Exports from Brazil has also drastically surged by 37.3% Y-0Y. On the other hand, exports from South Africa has significantly dropped down by12% Y-o-Y.
Meanwhile, seaborne iron ore market has again pick up. Currently, global iron ore prices for Fe 62% fines are assessed at USD 58/MT, CFR China on 21 Mar’16. Due to increase in global iron ore prices again and volatile market, it has been seen that Chinese Port stock have witnessed a subsequent fall. Market participants are still hesitant to make any new deals upon volatile market, and it is expected that China’s iron ore imports may drop down in Mar’16.
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