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Iron Ore November 07, 2017 01:30:59 PM

Imports of Iron Ore by the US Surged 45% in August

Paul Ploumis
ScrapMonster Author
Out of this, imports of agglomerated ore by the US totaled 359,013 tonnes, accounting for nearly 70% of the total monthly imports.

Imports of Iron Ore by the US Surged 45% in August

SEATTLE (Scrap Monster): According to the most recent trade statistics published by the US Department of Commerce and the Bureau of Census, the country’s iron ore imports registered significant jump during the month of August this year. The combined imports during the initial eight-month period of the year more than doubled when matched with the corresponding period in 2016.

The US imported 518,006 tonnes of iron ore during August this year. This is significantly higher by 45% when compared with the imports of 357,164 tonnes by the country during August 2016. The value of imports surged higher by 52.2% over the previous year to $47.64 million. The imports averaged at $92 per tonne during the month. The key exporters of iron ore to the US were Brazil, Sweden and Australia. These top three exporting nations accounted for more than 98% of the total imports by the US. The imports from Brazil totaled 442,682 tonnes. The other main sources of import were Sweden (43,067 tonnes), Australia (24,054 tonnes) and Canada (8,203 tonnes).

Out of this, imports of agglomerated ore by the US totaled 359,013 tonnes, accounting for nearly 70% of the total monthly imports. Brazil was the leading exporter of agglomerated iron ore to the US in August 2017. The imports from Brazil totaled 283,689 tonnes, followed by Sweden with 43,067 tonnes. The monthly imports of agglomerated ore recorded 106% jump over the year. The US imports of agglomerated ore had totaled only 174,683 tonnes in August 2016.

The non-agglomerated ore imports by the US declined 13% year-on-year to total 158,993 tonnes. Brazil was the only exporter of non-agglomerated iron ore to the US during the month. The imports were valued at $18.77 million. The average price of imports surged higher by 36% over the previous year to $118.1 per tonne during August this year.

As per Census Bureau data, the combined iron ore imports by the US during the first eight months of the year totaled 4.34 million tonnes, significantly higher by 109% when matched with the imports of 2.07 million tonnes recorded during the corresponding period in 2016. The largest exporter during the eight-month period was Brazil. The imports from Brazil totaled 2.84 million tonnes.

The agglomerated ore imports during Jan-Aug’17 totaled 2.73 million tonnes. This is considerably higher by 278% when matched with the imports of 722,135 tonnes during the corresponding period last year. Brazil was the key exporter during this period, followed by Canada and Norway.

The non-agglomerated ore imports during the eight-month period recorded 19% jump over the previous year to total 1.606 million tonnes. The value of imports amounted to $176.603 million at an average of USD 109.9 per tonne. The US imported non-agglomerated ore mainly from Brazil.

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