As we have reported earlier, China iron ore imports in Jun’16 down by 6%. The world’s largest consumer of iron ore, China imported 81.6 MnT iron ore in Jun’16. The country imports more than two third of seaborne iron ore.
In Jun’16, iron ore imports increased by 9% Y-o-Y, as it was 74.9 MnT in the same consecutive month last year. China iron ore imports in the first six months of 2016, recorded at 493.6 MnT, up by 9% higher than in the same consecutive months in 2015.
Country majorly imports iron ore from Australia, Brazil, and South Africa. Among total imports in May’16, Australia contributed 63%, Brazil 18% and South Africa contributed 5.3% of total imports to China.
Exports from Australia registered at 51.3 MnT,down by 5.4% M-o-M as compared to last month. However, on a Y-o-Y basis, exports from Australia, increased by 3.6% as it was 49.5 MnT in Jun’15.
On similar lines, exports from Brazil, the second largest exporter to China, remained at 15.2 MnT in Jun’16. Exporter was down by 9.5% M-o-M and up by 15% Y-o-Y basis exports as it was 13.2 MnT in Jun’15. Meanwhile, exports from South Africa had almost remained at 4.4 MnT.
India turned out to be fourth largest exporter of iron ore to China
Starting FY16, India continuous to export iron ore to China. And, in June’16, the country become fourth largest iron ore exporter to China.
In June’16, India exported around 2.27 MnT iron ore to China.
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