The world’s largest consumer of iron ore China has imported 94.5 MnT iron ore in Nov17. Chinese iron ore imports in Nov’17 witnessed an increase of 19% M-o-M as against 79.42 MnT in Oct’17. However, China iron ore imports increased by 3% Y-o-Y against 92 MnT in Nov’16.
During Jan- Nov’17 China iron ore import recorded increase of 5% to 1000.44 MnT as against 948.78 MnT same period last year.
Agglomerated iron ore (pellets and concentrate) imports witnessed an increase more than twice in Nov’17 to 2.27 MnT as against 0.97 MnT in Oct’17. However, the Y-o-Y imports recorded an increase of 86% in Nov’17 as against 1.22 MnT in Nov’16.
Non-agglomerated iron ore (lumps & fines) imports increased by 18% to 92.23 MnT in Nov’17 compared to Oct’17 which stood at 78.45 MnT. However, the Y-o-Y imports witness the Marginal change to 0.34% as compared to 91.92 MnT in Nov’16.
Australia iron ore exports to China were registered at 59.44 MnT up 16% M-o-M. Brazil, the second-largest iron ore exporter to China, has witnessed exports of 20.95 MnT up 25% M-o-M in Nov’17. Followed by South Africa at 4.35MnT and Iran at 1.88 MnT.
Indian iron ore Export to China plunge amid falling demand for low-grade ore-:
Indian iron ore export to China has come down by 35% Y-o-Y to 1.42 MnT in Nov’17 against 2.2 MnT in Nov’16 last year. Buying interest for high-grade seaborne iron ore has increased in China amid stricter environmental norms resulting in lowering demand for low-grade iron ore from India.
China Country-wise Iron Ore Sourcing Pattern -:
| Countries | Nov’17 | Oct’17 | M-o-M (%) | Nov’16 | Jan-Nov’17 | Jan-Nov’16 | Y-o-Y (%) |
| Australia | 59.44 | 51.29 | 16% | 56.5 | 617.61 | 584.95 | 6% |
| Brazil | 20.95 | 16.78 | 25% | 21.7 | 209.77 | 198.97 | 5% |
| South Africa | 4.35 | 3.34 | 30% | 4.1 | 42.24 | 41.01 | 3% |
| Iran | 1.88 | 1.31 | 44% | 1.33 | 18.44 | 13.24 | 39% |
| India | 1.42 | 0.77 | 84% | 2.2 | 28.52 | 16.09 | 77% |
| Others | 6.48 | 5.93 | 9% | 6.17 | 83.86 | 94.49 | -11% |
| Grand Total | 94.5 | 79.42 | 19% | 92 | 1,000.44 | 948.78 | 5% |
Quantity in MnT
Source: China Customs
Provisional Data
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