China’s Iron Ore Imports from India Rise 55% in CY'17
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In CY’17 China iron ore imports recorded increase of 4% to 1084.53 MnT as against 1038.39 MnT in CY’16.
The world’s largest consumer of iron ore, China has recorded increase of 4% in its yearly imports in CY17. In CY’17 China iron ore imports recorded increase of 4% to 1084.53 MnT as against 1038.39 MnT in CY’16. Demand for imported iron ore in China remained strong amid increased steel production.
In CY17, China imported 670 MnT iron ore from Australia (up 4% ), Brazil (230.5 MnT, up 7%) , South Africa (45MnT, up 1%), India (29.81 MnT , up 55% Y-o-Y). Increased iron ore exports from East India and Goa resulted in increased overall export volumes.
China imported 84.09 MnT iron ore in Dec’17. Chinese iron ore imports in Dec’17 however witnessed a decline of 11% M-o-M as against 94.5 MnT in Nov’17. The Y-o-Y imports also decreased 6% in Dec’17 as against 89.63 MnT in Dec’16.
Agglomerated iron ore (pellets and concentrate) imports witnessed decline of 28% in Dec’17 to 1.64 MnT as against 2.27 MnT in Nov’17. However, the Y-o-Y imports recorded an increase of 20% in Dec’17 as against 1.37 MnT in Dec’16
Non-agglomerated iron ore (lumps & fines) imports declined by 11% M-o-M to 82.45 MnT in Dec’17 compared to Nov’17 which stood at 92.23 MnT. The Y-o-Y imports depicted a decline of 7% in Dec’17 as compared to 88.26 MnT in Dec’16.
Australia iron ore exports to China were registered at 52.1 MnT, down 12% M-o-M in Dec’17, with 62% share of total Chinese iron ore imports. Brazil, the second-largest iron ore exporter to China, has recorded exports of 20.74 MnT down marginally as against 20.95 MnT in Nov’17, followed by South Africa at 2.84MnT and India at 1.28 MnT.
Indian iron ore Export to China declined amid falling demand for low-grade ore:
Indian iron ore export to China has come down by 59% Y-o-Y to 1.28 MnT in Dec’17 against 3.1 MnT in Dec’16. 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:
| Country | Dec'17 | Nov'17 | M-o-M (%) | Dec'16 | CY'17 | CY'16 | Y-o-Y (%) |
| Australia | 52.1 | 59.44 | -12% | 56.86 | 669.71 | 641.81 | 4% |
| Brazil | 20.74 | 20.95 | -1% | 17.51 | 230.51 | 216.48 | 6% |
| South Africa | 2.84 | 4.35 | -35% | 3.6 | 45.08 | 44.61 | 1% |
| India | 1.28 | 1.42 | -10% | 3.1 | 29.81 | 19.19 | 55% |
| Iran | 1.24 | 1.88 | -34% | 1.49 | 19.68 | 14.73 | 34% |
| Others | 5.88 | 6.48 | -9% | 7.06 | 89.75 | 101.59 | -12% |
| Grand Total | 84.09 | 94.5 | -11% | 89.63 | 1,084.53 | 1,038.39 | 4% |
Quantity in MnT
Source: China Customs
Provisional Data
