China Country-wise Iron Ore Imports in Jul’16

The world’s largest consumer of iron ore, China imported 88.4 MnT iron ore in Jul’16. The country imports more than two third of seaborne iron ore.

In Jul’16, iron ore imports were up by 8.3% M-o-M and up by 2.6% Y-o-Y. In Jul’15, the country imported 86.1 MnT iron ore.

China iron ore imports in first seven months of 2016 was recorded at 582 MnT iron ore, up by 8% as it was 539.1 MnT in the same consecutive time frame prior this year.  Chinese iron ore import price averaged at USD 51.8/MT, CFR China down by USD 11.69/MT Y-o-Y.

Country majorly imports iron ore from Australia, Brazil, and South Africa. Chile turns out to be fourth largest iron ore exporter to China in Jul’16. Among total imports in Jul’16, Australia contributed 60.7%, Brazil 22%, South Africa 3.9%, and China contributed 2.2% of total imports.

Exports from Australia registered at 53.7 MnT, up by 4.6% M-o-M. However, on Y-o-Y basis, exports from Australia drop down by 4.4% as it was 56.2 MnT in Jul’15.

On similar lines, exports from Brazil, the second-largest iron ore exporter to China, remained at 19.6 MnT in Jul’16. Exports were up by 28.9% M-o-M and 18.7% Y-o-Y basis. Meanwhile, exports from South Africa remained at 3.5 MnT, down by 20% as it was 4.4 MnT in Jun’16.

India exported 0.96 MnT iron ore in the month of Jul’16, significantly down by 57% as it was 2.27 MnT in Jun’16. In Jul’15, India exported 0.11 MnT iron ore to China.