The world’s largest consumer of iron ore, China has imported 91.98 MnT iron ore, 3rd highest on the record in Nov’16. The country imports more than two-third of seaborne iron ore.
In Nov’16, iron ore imports were up by 14% M-o-M. However, on the Y-o-Y basis, country’s import increased by 12% as it was 82.1 MnT in the same consecutive month last year.
In the first 11 months of 2016, the country imported 935.49 MnT iron ore, up by 9% as it was 856.9 MnT in the same consecutive time frame prior this year.
China majorly imports iron ore from Australia, Brazil, and South Africa. India turns out to be fourth largest iron ore exporter to China in Nov’16. Among total imports in Nov’16, Australia contributed 61%, Brazil 23%, South Africa 4% and India contributed 1.7% of total imports.
Exports from Australia registered at 56.39 MnT, up by 13% M-o-M. However, on the Y-o-Y basis, exports from Australia increased by 10% as it was 51.4 MnT in Nov’15.
On similar lines, exports from Brazil, the second-largest iron ore exporter to China, remained at 21.53 MnT in Nov’16. Exports were up by 20% M-o-M and 16% Y-o-Y basis. Meanwhile, exports from South Africa remained at 4.08 MnT, up by 21% as it was 3.38 MnT in Oct’16.
India exported 1.59 MnT iron ore in the month of Nov’16, significantly up by 56% as it was 1.02 MnT in Oct’16. Indian iron ore exports to China were recorded at 0.17 MnT in Nov’15.
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