South Africa's Iron Ore Exports Declined Sharply in August

SEATTLE (Scrap Monster): The most recently published trade data by the South African Revenue Service indicates notable decline in exports of iron ore by the country in August this year. The exports dropped sharply by over 31% from 5.499 million tonnes (Mt) in August last year to 3.789 Mt in August 2017.

The export prices almost doubled from $60.6 per tonne to $121.1 per tonne on year-on-year basis. The total value of exports climbed higher significantly by nearly 38% over the previous year to $458.8 million. The South African ore exports were valued at $333.4 million in August 2016.

By loading port, Saldanha Bay accounted for more than three-fourths of the total iron ore shipments during August. The shipment from the port totaled 2.916 million tonnes at an average price of $142.1 per tonne. In second place was Richards Bay with shipments totaling 501,800 tonnes. Komatipoort shipped 370,751 tonnes.

The shipment of non-agglomerated iron ore during the month totaled 2.240 Mt, marginally down by 5.3% when matched with the exports of 2.365 Mt in August last year. Among ports, Saldanha Bay topped with exports of 1.367 Mt. The export prices averaged at $59.7 per tonne. The other key ports of exports were Richards Bay (501,592 tonnes) and Komatipoort (370,751 tonnes).

The country reported over 50% plunge in agglomerated ore shipments. Saldanha Bay accounted for bulk of the exports. The quantity of exports through the other ports was nominal. The total value of agglomerated ore exports surged higher by 53% over the year. The export price per tonne too skyrocketed by 209%.

The cumulative shipment during the first eight months of the year totaled 40.993 Mt, slightly lower by 2.7% upon comparison with the shipment of 42.125 Mt in Jan-Aug ’16. Out of this, Saldanha Bay shipped 34.610 Mt, accounting for more than 84% of the total shipments by South Africa durign Jan-Aug ’17. The other major ports of export during the initial eight-month period of 2017 were Richards Bay (3.470 Mt) and Komatipoort (2.906 Mt).

The non-agglomerated iron ore shipments out of the country increased marginally by 1.9% to total 17.157 Mt in Jan-Aug ‘17. The key ports by shipment volume during the eight-month period were Saldanha Bay (10.781 million tonnes), Richards Bay (3.468 million tonnes) and Komatipoort (2.906 million tonnes).

Meantime, the exports of agglomerated ore registered 5.8% decline over the year from 25.292 Mt in Jan-Aug ’16 to 23.836 million tonnes in Jan-Aug ’17. The bulk of the shipments were through Saldanha Bay. The shipments through the port totaled 23.829 Mt. The other main loading ports were Johannesburg (3,199 tonnes), Beit Bridge (2,051 tonnes) and Richards Bay (1,873 tonnes).