The world’s largest consumer of iron ore, China has imported 92 MnT iron ore in Jan’17. The country imports more than two-third of seaborne iron ore.
In Jan’17, iron ore imports were up by 3% M-o-M. However, on the Y-o-Y basis, country’s import increased by 12% as it was 82 MnT in the same consecutive month last 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 Jan’17. Among total imports in Jan’17, Australia contributed 62%, Brazil 20%, South Africa 4.2% and India contributed 3.7% of total imports.
Exports from Australia registered at 57.29 MnT, up by 1% M-o-M. However, on the Y-o-Y basis, exports from Australia increased by 14% as it was 50.1 MnT in Jan’16.
On similar lines, exports from Brazil, the second-largest iron ore exporter to China, remained at 18.4 MnT in Jan’17. Exports were up by 5.5% M-o-M and down by 3% Y-o-Y basis. Meanwhile, exports from South Africa remained at 3.94 MnT, up by 9% in Dec’16.
India exported 3.41 MnT iron ore in the month of Jan’17, significantly up by 32% as it was 2.57 MnT in Dec’16. Indian iron ore exports to China were recorded at 0.7 MnT in Jan’16.
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