Japan: Iron Ore Import Decline Marginally in Feb’18

Japan, the second largest iron ore importer of the world, recorded decline in imports in Feb’18. The imports witnessed at 10.22 MnT in Feb’18, down marginally as against 10.62 MnT in Jan’18.  The Y-o-Y imports witnessed an increase of 8% in Feb’18 as against 9.48 MnT in Feb’17.

In Feb’18, Japan’s crude steel output recorded at 8.29 MnT, down 8% M-o-M as against output of 9.03 MnT in Jan’18. However on yearly basis, the crude steel output declined marginally in Feb’18 against 8.34 MnT in Feb’17. Thus, reduced iron ore imports must have resulted in lesser crude steel output.

For the first two months of CY’18, the total imports stood at 20.84 MnT, up 6% as against same period last year. Australia recoded to be the largest exporter at 12.24 MnT (up 10% Y-o-Y), followed by Brazil at 5.45 MnT (up 6% M-o-M).

Agglomerated (pellets/concentrate) iron ore imports were down 15% M-o-M to 1.06 MnT in Feb’18 as against 1.24 MnT in Jan’18. It witnessed a decline of 16% Y-o-Y in Feb’18 as against Feb’17 at 1.26 MnT.

The non-agglomerated (fines/lump) iron ore imports witnessed a decline of 2% to 9.15 MnT in Feb’18 as against Jan’18 at 9.37 MnT. The Y-o-Y imports depicted increase of 11% in Feb’18 as compared to Feb’17 which was recorded at 8.22 MnT.

Japan Iron ore imports from Australia down 12% M-o-M

Australia continues to remain the largest iron ore exporter to Japan in the month of Feb’18 with total quantity of 5.73 MnT, contributing 56% of total import share (down 12% M-o-M), followed by Brazil at 2.72 MnT. Indian export to Japan recorded at 0.36 MnT, up 24% M-o-M as against 0.29 MnT in Jan’18. Imports from Ukraine recorded increase to twice M-o-M at 0.17 MnT.

Country Wise Iron Ore Import Feb’18 v/s Jan’18

Quantity in MnT
Source: Japan Customs
Provisional Data