As per the statistics released by European Union, United Kingdom has imported 0.71 MnT of Iron Ore in the month of April’16 which is 21.97% less than the quantity imported in March’16.
Sweden is the largest exporter of Iron Ore with the export quantity of 0.30 MnT in April’16. The other key exporters of Iron Ore to UK in April’16 were Brazil with exports of 0.19 MnT, Canada with exports of 0.16 MnT and Russia with exports of 0.06 MnT.
United Kingdom Iron Ore Import
| Origin Countries | March’16 | April’16 | ||||
| Iron Ore | Iron Ore Pellets | Grand Total | Iron Ore | Iron Ore Pellets | Grand Total | |
| Sweden | 0.02 | 0.20 | 0.22 | 0.02 | 0.28 | 0.30 |
| Brazil | 0.40 | 0.00 | 0.40 | 0.19 | 0.00 | 0.19 |
| Canada | 0.00 | 0.16 | 0.16 | 0.16 | 0.00 | 0.16 |
| Russia | 0.00 | 0.00 | 0.00 | 0.06 | 0.00 | 0.06 |
| Norway | 0.13 | 0.00 | 0.13 | 0.00 | 0.00 | 0.00 |
| Total | 0.91 | 0.71 | ||||
Quantity in MnT,
Source: European Union Statistics
There is an increase of 37.15% increase in imports from Sweden from 0.22 MnT in Mar’16 to 0.29 MnT in April’16. Imports from Brazil is decreased by 52.29% from 0.40 MnT in March’16 to 0.19 MnT in April’16.
Sweden is the largest exporter of Iron Pellets in April’16 for United Kingdom with exports of 0.28 MnT, whereas for Lumps and Fines, Brazil is the largest exporter with export quantity of 0.19 MnT in April’16 followed by Canada, Russia and Sweden with export quantity of 0.16 MnT, 0.06 MnT and 0.02 MnT respectively.
Year on Year basis, there is a downfall of 12.61% seen on United Kingdom Iron Ore imports from CY2014 to CY2015. In 2014, total Iron Ore imports were 14.03 MnT and in the year of 2015 the total imports were 12.26 MnT.
YoY basis Brazil is the largest exporter of Iron Ore for United Kingdom which has already export 30.16 MnT of Iron Ore from CY2011 to CY2015, followed by Russia, Sweden, Canada and with export quantity of 7.46 MnT , 7.28 MnT and 4.73 MnT respectively.
Post BREXIT, things might go south for EXIM between European Union and United Kingdom as there is a heavy trade flow happening among both of them. UK and European Union might need to enter into a new trade deal, tariffs of goods might change, possibility of negotiation on a country by country basis will no longer take place as UK might have to negotiate a single deal with rest of the EU 27 countries and most importantly the currency and price will change.
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