The world’s largest consumer of iron ore, China has imported 80.8 MnT iron ore in Oct’16. The country imports more than two-third of seaborne iron ore.
In Oct’16, iron ore imports was down by 13% M-o-M. However, on the Y-o-Y basis, country’s import increased by 7% as it was 75.5 MnT in the same consecutive month last year.
In the first 10 months of 2016, the country imported 843.51 MnT iron ore, up by 8.8% as it was 774.8 MnT in the same consecutive time frame prior this year.
Country majorly imports iron ore from Australia, Brazil, and South Africa. India turns out to be sixth largest iron ore exporter to China in Oct’16. Among total imports in Oct’16, Australia contributed 65%, Brazil 22%, South Africa 4%, Canada 1.5% , Mauritania 1.4% and India contributed 1.4% of total imports.
Exports from Australia registered at 49.89 MnT, down by 18% M-o-M. However, on the Y-o-Y basis, exports from Australia increased by 3% as it was 48.4 MnT in Oct’15.
On similar lines, exports from Brazil, the second-largest iron ore exporter to China, remained at 17.8 MnT in Oct’16. Exports were down by 6% M-o-M and up by 18% Y-o-Y basis. Meanwhile, exports from South Africa remained at 3.38 MnT, down by 24% as it was 4.47 MnT in Sept’16.
India exported 1.02 MnT iron ore in the month of Oct’16, significantly up by 16% as it was 0.88 MnT in Sept’16. Indian iron ore exports to China was recorded at 0.07 MnT in Oct’15.
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