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Iron Ore March 31, 2017 10:30:22 AM

Exports of Iron Ore by Malaysia shot up 69% in 2016

Carolina Curiel
ScrapMonster Author
The country's iron ore exports surged higher significantly during the previous year, says latest trade statistics released by the Department of Statistics, Malaysia.

Exports of Iron Ore by Malaysia shot up 69% in 2016

SEATTLE (Scrap Monster): The country's iron ore exports surged higher significantly during the previous year, says latest trade statistics released by the Department of Statistics, Malaysia.

Malaysia’s iron ore exports totaled 22.384 million tons during the entire year 2016. This is considerably higher by nearly 69% when matched with the exports during the year before that. The country had exported 13.262 million tons of iron ore during 2015.

The largest importer of iron ore from Malaysia during the year was China. The imports by China totaled 19.993 million tons. The imports by China rose by nearly 70% when compared with 11.692 million tons imported during 2015. The Malaysian ore exports to Japan totaled 1.163 million tons in 2016, soaring by nearly seven-fold over the previous year. The Japanese imports had totaled only 151,364 tons in 2015. In third place was Vietnam with imports of 485,031 tons. It must be noted that Vietnam had not imported iron ore from Malaysia during 2015. The other key importers of Malaysian iron ore were Australia (387,011 tons, +170.1% over 2015) and the UAE (22,000 tons, +10%).

The exports of non agglomerated iron ore totaled 22.356 million tons, accounting for major chunk of exports by the country during the year. The non-agglomerated iron ore exports by the country surged higher by 69.7% year-over-year when matched with 13.170 million tons exported during the whole of 2015.

The country exported non-agglomerated iron ore mainly to China. The Chinese imports from Malaysia totaled 19.965 million tons, rising sharply by 71.5% from 11.639 million tons in 2015. The second largest export destination of Malaysian non-agglomerated ore was Japan. The imports by Japan totaled 1.163 million tons. The other primary importers of non-agglomerated iron ore from Malaysia during the year were Vietnam (485,031 tons), Australia (387,011 tons), Indonesia (334,170 tons) and the UAE (22,000 tons).

Malaysia’s exports of agglomerated iron ore totaled 27,498 tons in 2016, falling significantly by almost 70% in comparison with the previous year. The exports had totaled 91,500 tons in 2015. The only importer of agglomerated ore from Malaysia was China. The imports by China almost halved when matched with the previous year imports of 53,000 tons. The imports by Indonesia plummeted to zero during the year when matched with 38,500 tons imported in 2015.

Meantime, the monthly exports plunged heavily in December last year, falling from 4.807 million tons a month before to as low as 2.354 million tons. The sharp decline was mainly on account of huge decline in intake of iron ore by China. The imports by China dropped from 4.495 million tons in Nov ’16 to 2.274 million tons in December 2016. Japan’s imports tumbled to zero during the month. The imports by Australia too declined month-over-month from 137,798 tons to 79,908 tons in Dec ’16.

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