Taiwan’s Q1 iron ore imports tumbled by over 20%

BEIJING (Scrap Monster): The trade statistics released by the Taiwan’s Directorate General of Customs for the month of March 2016 indicates marginal increase in iron ore imports by the country. However, the imports during the initial three-month period of the year declined sharply by over 20% year-on-year.

Lump/Fines

The largest exporter of iron ore lump/fines to Taiwan during March this year was Australia. The imports from Australia totaled 1.939 Million tonnes, accounting for over 90% of the total imports of lump/fines by Taiwan during the month. The import price averaged at $48.2 per ton and the value of imports totaled $93.442 million. The other key import source was Brazil (214,486 tonnes). The lump/fines import by the country has increased considerably by 13% to 2.153 million tonnes relative to the imports during the same month a year before.

Pellets

Brazil was the largest pellet exporter to Taiwan during Mar ’16. The pellet imports from Brazil totaled 88,000 tonnes, accounting for nearly 62% of the total pellet imports by Taiwan during the month. The other major exporter of pellets to Taiwan was China (54,065 tonnes). The pellet imports totaled 142,191 tonnes, down considerably by 59% when matched with the imports of 343,214 tonnes during March last year.

Combined

Taiwan’s iron ore imports during the month totaled 2.296 Million tonnes, marginally higher by 2% when compared with the imports during the same month a year before. The import prices averaged at $47.9 per tonne, over 33% lower year-on-year. The iron ore import prices during March 2015 had averaged at $71.8 per tonne. The country’s iron ore imports were valued at $110.068 million, dropping sharply by 32% when compared with the previous year.

The largest exporter of iron ore to Taiwan during March this year was Australia. The imports from Australia totaled 1.939 Million tonnes, accounting for nearly 85% of the total imports by Taiwan during the month. The price of iron ore import from the country averaged at $48.2 per tonne. The second largest source of iron ore import by the country was Brazil with 302,486 tonnes. The iron ore import prices from Brazil averaged at $40.3 per tonne during the month. The third largest exporter of iron ore to Taiwan was China with 54,065 tonnes.

Quarterly imports

The cumulative iron ore imports by Taiwan during the initial three-month period of the year totaled 5.353 Million tonnes. The imports during the quarter were down significantly by 20.5% when matched with the imports of 6.731 Million tonnes during the corresponding quarter last year. The price of imports dropped sharply by 40% from $77.8 per ton to $46.9 per ton. 

The largest exporter of iron ore lump/fines to Taiwan during Q1 2016 was Australia. The imports from Australia totaled 4.232 Million tonnes, accounting for nearly 88% of the total imports of lump/fines by Taiwan during the quarter. The Taiwanese lump/fines import has registered decline of 15% over the previous year. Brazil was the largest pellet exporter to Taiwan during Jan-Mar ’16. The pellet imports from Brazil totaled 436,309 tonnes. The pellet imports have dropped significantly by 50% when compared with the corresponding quarter last year.

The largest exporter of iron ore to Taiwan during the initial quarter of the current year was Australia. The imports from Australia totaled 4.232 Million tonnes, accounting for almost 80% of the total imports by Taiwan during the quarter. The price of iron ore import from the country averaged at $44.9 per tonne. The second largest source of iron ore import by the country was Brazil with 952,927 tonnes. The iron ore import prices from Brazil averaged at $52.0 per tonne during the month. The other key exporters during the quarter were China (92,570 tonnes) and Canada (74,355 tonnes).