Russia, the 8th largest exporter of iron ore has recorded decline in quarterly exports in quarter ending Mar’18. According to the trade statistics released by Russian Customs, the exports witnessed at 5.07 MnT in Q1 CY’18, stood 13% down as against 5.83 MnT in Q4 CY’17. However, the Y-o-Y exports recorded increase of 12% in first quarter CY’18 as compared to 4.54 MnT in first quarter CY’17.
Iron Ore Exports fall to Six Month Low in Mar’18
Russia has depicted a downward trend in exports since past six months .In Mar’18, Russia’s iron ore exports recorded at 1.48 MnT, down slightly as compared to Feb’18 exports at 1.52 MnT. On yearly basis, the exports witnessed stability as compared to Mar’17 exports at 1.46 MnT.
The non-agglomerated ore (Lumps and Fines) witnessed reduction of 25% Q-o-Q exports to 1.54 MnT in Q1 CY’18 as against 2.06 MnT in Q4 CY’17. The Y-o-Y exports witnessed a decline of 18% in Q1 CY’18 as against 1.87 MnT in Q1 CY’17.
Agglomerated ore (pellets and concentrates) recorded fall of 6% in quarterly exports to 3.53 MnT for first quarter CY’18 as compared to 3.75 MnT in previous quarter. The Y-o-Y export was up 32% in Q1 CY’18 as compared to Q1 CY’17 at 2.68 MnT.
Russian Iron Ore exports to China down 16% in Q1 CY’18:
China continued to be the largest importer of iron ore from Russia in Q1 CY’18 at 1.53 MnT, contributing 30% share of total Russian iron ore exports. However, Chinese imports from Russia stood 16% down on quarterly basis owing to increase in supplies from Australia. Ukraine marked second largest importer at 0.85 MnT (down 8% Q-o-Q), followed by Turkey at 0.49 MnT(down 36%).
Poland and Slovakia depicted imports at 0.28 MnT(down 26% Q-o-Q) and 0.22 MnT (down 24% Q-o-Q) respectively.
In Mar’18, exports to largest importer, China recorded increase to twice on monthly basis. Chinese imports witnessed at 0.73 MnT in Mar’18 as against 0.35 MnT in Feb’18. The second largest Russian iron ore importer, Ukraine marked iron ore imports at 0.43 MnT, up 54% M-o-M compared to 0.28 MnT in Feb’18.
Turkey, Poland and Slovakia recorded decline in imports in Mar’18 at 0.13 MnT (down 43%), 0.02 MnT (down 86%), and 0.01 MnT (down 90%) respectively.
Finland and Egypt recorded nil imports for the month against being 0.22 MnT and 0.08 MnT a month before.
Russia’s Country-wise export for Q1 CY18 v/s Q4 CY’17
| Country | Q1 CY’18 | Q4 CY’17 | Q-o-Q (%) | Mar’18 | Feb’18 | M-o-M (%) |
| China | 1.53 | 1.83 | -16% | 0.73 | 0.35 | 109% |
| Ukraine | 0.85 | 0.92 | -8% | 0.43 | 0.28 | 54% |
| Turkey | 0.49 | 0.76 | -36% | 0.13 | 0.23 | -43% |
| Finland | 0.45 | 0.47 | -4% | – | 0.22 | -100% |
| United Arab Emirates | 0.31 | – | 100% | – | – | – |
| Poland | 0.28 | 0.38 | -26% | 0.02 | 0.14 | -86% |
| Slovakia | 0.22 | 0.29 | -24% | 0.01 | 0.1 | -90% |
| Egypt | 0.17 | – | 100% | – | 0.08 | -100% |
| Japan | 0.15 | 0.12 | 25% | 0.08 | 0.07 | 14% |
| Others | 0.61 | 1.06 | -42% | 0.08 | 0.05 | 60% |
| Grand Total | 5.07 | 5.83 | -13% | 1.48 | 1.52 | -3% |
Quantity in MnT
Source: Russian Customs
Provisional Data
Leave a Reply