The world’s largest consumer of iron ore, China has imported 92.5 MnT iron ore in May’17. The country imports more than two-third of seaborne iron ore.
In May’17, iron ore imports were up by 11% M-o-M. However Y-o-Y, country’s import increased by 6% as it was 86.7 MnT for the same month last year.
China chiefly imports iron ore from Australia, Brazil, and South Africa. India turns out to be fourth largest iron ore exporter to China in May’17. Among total imports of iron ore by China in May’17, Australia contributed 60%, Brazil 21%, South Africa 4.4% and India contributed 3.2% of total imports.
Exports from Australia were registered at 55.1 MnT, up by 10.1% M-o-M. However, on the Y-o-Y basis, exports from Australia increased only by 1% as it was 54.7 MnT in May’16.
On similar lines, exports from Brazil, the second-largest iron ore exporter to China, remained at 18.9 MnT in May’17. Exports were up by 14.3% M-o-M and up by 12% Y-o-Y. Meanwhile, exports from South Africa remained at 4 MnT, up by 6.7% in May’16 M-o-M and 18% Y-o-Y compared to May’16.
India exported 2.9 MnT iron ore to China in the month of May’17, considerably down by 24.6% M-o-M as it was 3.9 MnT in Apr’17; however it were up by 79% Y-o-Y as it were at 1.6 MnT in May’16.
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