Average global iron ore fines (Fe 62%) prices in June’18 marked stable since Apr’18 at USD 66/MT, CFR China.
On yearly basis, the imports recorded fall of 13% in June’18 as compared to June’17 imports at 95.39 MnT.
Chinese iron ore imports in H1 CY18 were recorded at 530.67 MnT as against 546.09 MnT in same time frame last year. Thus imports have come down by 2% Y-o-Y in first half of this year.
Brazil iron ore export shipments to China increased 6% M-o-M
China, the largest importer of Brazilian iron ore recorded imports at 21.42 MnT for the month of June’18, rise of 6% as against 20.23 MnT in May’18, according to provisional data maintained with SteelMint.
China accounts for more than half of Brazilian iron ore exports, amidst stricter regulations in China, buyers are preferring low alumina Brazilian iron ore (Carajas fines) resulting in increased exports from Brazil.
China, contributed 62% of total exports of Brazil via sea route in Q2 CY’18 according to provisional data by Inchcape Shipping Services, Brazil and maintained with SteelMint. The imports recorded an increase of 12% Q-o-Q in Q2 CY’18 at 54.91 MnT against Q1 CY’18 imports at 48.81 MnT.
China accounts for nearly 70% of world’s seaborne iron ore trade and imports iron ore majorly from Australia, Brazil, South Africa, India, Ukraine, and Iran.
Indian Iron Ore Exports to China reduced 62% in June’18
For the month of June’18, Chinese import of Indian iron ore declined 62% on monthly basis, owing to preference for high grade ore. The imports recorded at 0.28 MnT in June’18 compared to 0.72 MnT in May’18. Post mining ban in Goa, low grade exports from India to China have reduced sharply.