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Iron Ore September 19, 2016 10:30:43 AM

Brazil, Canada report significant jump in iron ore export volumes

Carolina Curiel
ScrapMonster Author
The latest trade statistics suggests significant improvement in iron ore export volumes by Brazil and Canada.
Brazil, Canada report significant jump in iron ore export volumes

TORONTO (Scrap Monster): The latest trade statistics suggests significant improvement in iron ore export volumes by Brazil and Canada. On the other hand, the export volumes registered declines in other major exporting nations including Russia and South Africa.

The most recent data released by the Brazil Ministry of Development, Industry and Trade of the foreign trade Secretariat (SECEX) indicates that the country’s iron ore exports increased by 14% over the previous year to 34.5 million tons during the month of August this year. The monthly exports were up by 14% in comparison with the previous month. When matched with the exports during the same month a year before, Brazil’s iron exports during August this year were up by 27.2%. The value of exports totaled $12.5 billion, rising sharply by 26% from the prior month.

The iron ore exports by Canada surged higher by over 16% during the month of July this year to 3.413 million tons. The largest importers of Canadian iron ore during the month were the Netherlands (607,500 tons) and China (360,800 tons). The cumulative iron ore exports by the country during the initial seven-month period of the year totaled 22.953 million tons, rising significantly by nearly 12% over the previous year. Canada exported 4.95 million tons to China during this period. The country’s iron ore exports to the Netherlands totaled 3.28 million tons.

Meantime, government trade data released by South African authorities suggests that iron ore exports by the country dropped by 8.4% over the previous year to 5.93 million tons during the month of July this year. The average export prices registered sharp decline of 19% year-on-year to $56.5 per ton FOB. The key importer of the country’s iron ore exports during the month was China (3.593 million tons), followed by India (769,000 tons) and Japan (593,000 tons). The cumulative iron ore exports by the country registered decline of nearly 7% over the previous year to 36.626 million tons during the initial seven months of 2016.

According to data published by the Customs Committee of Russia, the country’s iron ore exports fell considerably during the month of June this year. The cumulative exports during the initial half-yearly period of the current year were down significantly over the previous year.

The Russian iron ore exports during June this year totaled 1.642 million tons, declining sharply by 8.5% when compared with the exports during the same month a year before. The exports had totaled 1.795 million tons during June 2015. The average price of export dropped by 5.2% to $40.60 per ton when matched with the average export price of $42.83 per ton during June last year.

The largest importer of iron ore from Russia during the month was China. The imports of Russian iron ore by the country totaled 582,000 tons, accounting for over 35% of the total monthly exports. The second largest importer of Russian iron ore during the month was Ukraine. The imports by Ukraine totaled 286,000 tons. In third place was Slovakia with imports of 231,000 tons.

The Russian iron ore exports during January to June this year totaled 3.237 million tons, declining considerably by 30.9% when compared with the exports during the corresponding period a year before. The exports had totaled 4.685 million tons during Jan-June 2015. The largest importers of Russian iron during the initial six-month period in 2016 were China (2.938 million tons) and Ukraine (1.243 million tons).

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