The global iron ore trade is subject to demand and supply. World iron ore trade increased rapidly during Jan-Aug’16. In 2014, the seaborne iron ore trade increased by 12% to 1,356 MnT; grew further by 5-6%, reaching 1,407 MnT in 2015.
Considering the Top 5 world’s iron ore exporters, total 35 MnT additional quantity of iron ore was exported during Jan-Aug’16 against the same period last year. This increase was entirely due to increased supply of Australia and Brazil.
Both the iron ore producing giants have increased their seaborne supply due to new iron ore projects which have started their operations in 2016. Cumulatively, both the nations are expected to supply around 100 MnT of iron ore by the end of 2016. This will surely increase the 2016’s seaborne trade.
Meanwhile, during Jan-Aug’16, India exported around 10 MnT iron ore against 1.23 MnT in the same frame last year. Resumptions of mining operations after the ban was lifted and scrapping of export duty on low-grade iron ore have attracted Indian exports to gear up.
Major trade flow of Top 5 iron ore exporters during Jan-Aug’16
| Exporter | 2016 | 2015 | % change | Biggest Buyers | 2016 | 2015 | %change |
| Australia | 527.17 | 502.03 | 5% | China | 432.35 | 408.43 | 6% |
| Japan | 48.72 | 45.98 | 6% | ||||
| Republic of Korea | 31.2 | 34.38 | -9% | ||||
| Taiwan | 9.61 | 10.8 | -11% | ||||
| Indonesia | 2.36 | 1.98 | 19% | ||||
| Others | 3.22 | 1.35 | 138% | ||||
| Brazil | 241.93 | 229.5 | 5% | China | 133.8 | 108.05 | 24% |
| Japan | 19.88 | 17.95 | 11% | ||||
| Malaysia | 17.2 | 14.51 | 19% | ||||
| Netherlands | 14.63 | 13.97 | 5% | ||||
| South Korea | 7.07 | 7.82 | -10% | ||||
| Oman | 5.63 | 8.55 | -34% | ||||
| Others | 12.43 | 58.65 | -79% | ||||
| South Africa | 42.08 | 45.2 | -7% | China | 27.58 | 28.56 | -3% |
| India | 3.32 | 3.41 | -3% | ||||
| Japan | 2.48 | 3.9 | -36% | ||||
| South Korea | 2.37 | 2.3 | 3% | ||||
| Hong Kong | 1.8 | 2.47 | -27% | ||||
| Netherlands | 1.79 | 1.68 | 7% | ||||
| Others | 2.74 | 2.9 | -6% | ||||
| Ukraine | 27.14 | 30.27 | -10% | China | 14.1 | 15.04 | -6% |
| Czech Republic | 3.05 | 3.28 | -7% | ||||
| Poland | 3.06 | 3.28 | -7% | ||||
| Austria | 2.04 | 1.96 | 4% | ||||
| Slovakia | 1.83 | 1.95 | -6% | ||||
| Germany | 1.06 | 0.94 | 13% | ||||
| Others | 2 | 3.82 | -48% | ||||
| Canada | 27.02 | 23.98 | 13% | China | 6.12 | 4.09 | 50% |
| France | 3.68 | 4.13 | -11% | ||||
| Netherlands | 3.21 | 3.72 | -14% | ||||
| Japan | 2.81 | 2.63 | 7% | ||||
| Belgium | 1.99 | 1.22 | 63% | ||||
| Spain | 1.83 | 0.98 | 87% | ||||
| Others | 7.38 | 7.21 | 2% | ||||
| India | 10.1 | 1.23 | 721% | China | 7.58 | 0.52 | 0 |
| Japan | 1.73 | 0.36 | 381% | ||||
| South Korea | 0.71 | 0.35 | 103% |
Quantity in MnT
Source: Customs
Provisional Data
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