- Monthly iron ore imports to China in Nov’16 climbed to 3rd highest on record.
- China imported 91.98 MnT iron ore last month and 935.49 MnT Jan-Nov’16
- Global iron ore index rose by USD 14/MT M-o-M.
World’s largest iron ore importer, China has imported around 91.98 MnT iron ore in the month of Nov’16, up by 14% as compared to Oct’16 i.e. 80.8 MnT.
China’s iron ore imports in Nov’16 are third highest on record. Back in Sept’16, the country imported 92.99 MnT iron ore.
However, on the Y-o-Y basis, country’s import increased by 12% as it was 82.1 MnT in Nov’15.
In the first eleven months of 2016, the country imported 935.49 MnT iron ore, up by 9% as it was 856.9 MnT in the same time period last year.
Global iron ore index surged by USD 14 in Nov’16 – It is to be noted that global iron ore prices also moved up sharply in Nov’16 on stronger demand in China’s domestic steel market and increase in coal as well as steel prices.
Spot iron ore fines (Fe 62%) prices move up sharply by USD 14 /MT last month and averaged to USD 72/MT, CFR China in Nov’16 against USD 58.2/MT, CFR China in Oct’16.
An year earlier, In Nov’15, monthly average global iron ore fines (Fe 62%) index was assessed at USD 46.6/MT, CFR China.
Chinese steel exports up by 5.5% M-o-M – In Nov’16, Chinese steel exports moved up by 5.5% M-o-M. Steel exports remained at 8.12 MnT in Nov’16 against 7.7 MnT in Oct’16.
However, on the Y-o-Y basis, China’s steel exports has fallen by 15% as it stood at 9.6 MnT in Nov’15.
In first eleven months of 2016, country’s steel exports registered at 101.01 MnT compared to 101.2 MnT in the same time period previous year.
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