The world’s largest consumer of iron ore, China has imported 87.7 MnT iron ore in Aug’16. The country imports more than two-third of seaborne iron ore.
In Aug’16, iron ore imports were almost stable as compared to Jul’16. However, on Y-o-Y basis, country’s import increased by 18.3% as it was 74.1 MnT in the same consecutive month last year.
China iron ore imports in first eight months of 2016 was recorded at 669.7 MnT iron ore, up by 9.2% as it was 613.2 MnT in the same time period prior this year. In Aug’16, Chinese iron ore import price averaged at USD 55.76/MT, CFR China up by USD 0.6/MT from USD 55.6/MT in the month of Jul’16.
Country majorly imports iron ore from Australia, Brazil and South Africa. Ukraine turns out to be fourth largest iron ore exporter to China in Aug’16 which was Chile in Jul’16. Among total imports in Aug’16, Australia contributed 63.2%, Brazil 20%, South Africa 3.7%, and Ukraine contributed 1.8% of total imports.
Exports from Australia registered at 55.5 MnT, up by 3.3% M-o-M. However, on Y-o-Y basis, exports from Australia drop down by 19.3% as it was 46.5 MnT in Aug’15.
On similar lines, exports from Brazil, the second-largest iron ore exporter to China, remained at 17.48 MnT in Aug’16. Exports were down by 10.8% M-o-M and up by 7.4% Y-o-Y basis. Meanwhile, exports from South Africa remained at 3.3 MnT, down by 5.7% as it was 3.5 MnT in Jul’16.
India exported 1.03 MnT iron ore in the month of Aug’16, significantly up by 7.2% as it was 0.96 MnT in Jul’16. In Aug’15, Indian iron ore exports to China remained nil.
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