China, the world’s largest iron ore importer has imported 0.98 MnT pellets in the month of Oct’16. Pellet imports have registered a downfall of 24% M-o-M against 1.29 MnT in Sept’16. However, on Y-o-Y basis, pellet imports have registered a downfall of 46% as it was 1.84 MnT in the same month last year.
In the first 10 months of 2016, the country imported 11.92 MnT pellets, down by 42% as it was 20.71 MnT in the same time period last year.
China mainly imports high-grade pellets from India, Australia, Ukraine, Brazil, Russia etc. However, since Nov’15, imports from Brazil have come to a halt due to disruption in Samarco’s operations which generally exports 10-11 MnT every year.
In Oct’16, India exported 0.52 MnT pellets to China and continue to remain the largest exporter of pellets. India is actively exporting high-grade pellets to China in order to fulfill its pellet appetite. Chile turned out to be the second largest pellet exporter and exported 0.14 MnT pellets in Oct’16.
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