South African Iron Ore Export Down by 7% in Aug’16

India continuous to be the second largest importer of South African iron ore exports.

South Africa, the 3rd largest iron ore exporter after Australia and Brazil has exported around 5.50 MnT iron ore in Aug’16, according to the trade data released by South African Customs.

Iron ore exports have witnessed a downfall of 7.2 % M-o-M as it was 5.93 MnT in Jul’16. On the contrary, South African iron ore export has significantly increased by 27.6% on Y-o-Y basis.

In the first eight months of 2016, the country exported 42.08 MnT iron ore, down by 7% as it was 45.2 MnT in the same consecutive period last year.

In Aug’16, the agglomerated iron ore (pellets and concentrate) exports were at 3.13 MnT, down by 10.8% as it was 3.51 MnT in Jul’16. On similar lines, non-agglomerated iron ore (lumps & fines) exports were registered at 2.37 MnT in Aug’16, down by 2% as it was 2.42 MnT in Jul’16.

1. China, the largest iron ore consumer imports around 60% of South African iron ore exports. In Aug’16 Chinese imports from South Africa have witnessed a downfall of 19% M-o-M which was 2.91 MnT in Aug’16 and 3.59 MnT in Jul’16. The nation imported around 2.93 MnT iron ore from South Africa in Aug’15.

2. India, continuous to be the second-largest iron ore importer, imported around 0.67 MnT iron ore in Aug’16 as compared to 0.77 MnT in Jul’16. The nation imported 0.25 MnT in Aug’15.

3. Netherlands turned out to be the third-largest iron ore importer by replacing Japan and imported around 0.63 MnT iron ore in Aug’16, significantly up by 100% as compared to Jul’16. The nation imports remained nil in Jul’16 and 0.18 MnT in Aug’15.

4. South Korea, the fourth largest iron ore importer of South African iron ore has imported 0.41 MnT iron ore, significantly up by 24.2% as compared to 0.33 MnT in Jul’16. However, on a Y-o-Y basis, South Korea iron ore import has registered a growth of 10.8% in Aug’15.

5. Hong Kong, the fifth largest importer, has reduced its imports by 24% in Aug’16. In Aug’16, the country imported, 0.26 MnT iron ore as compared to 0.34 MnT in Jul’16. However, on a Y-o-Y basis, Hong Kong import has also increased by around 8.3% as it was 0.24 MnT in Aug’15.