UK's iron ore imports surged 21% in February

SPOKANE (Scrap Monster): The trade statistics released by the HM Revenue & Customs indicate that iron ore imports by the UK surged higher significantly during the month of February this year. Also, the cumulative imports during the initial two-month period from January to February in 2017 were up sharply by 17.8% when matched with the previous year.

The UK iron ore imports during February this year totaled 804,701 tons, rising sharply by 21.2% when compared with the imports during the same month a year before. The imports had totaled 663,704 tons during February 2016. Meantime, the average price of import rose significantly to $78.15 per ton when matched with the average import price of $47.80 per ton during February 2016. The total value of imports has almost doubled from $31.722 million to $62.889 million.

The largest exporter of iron ore to the UK during the month was Brazil. The imports from the country totaled 363,488 tons, accounting for a little over 45% of the total monthly imports. The imports from Brazil averaged at $74.86 per ton. The total value of imports from the country totaled $27.212 million. The other key exporters during the month were South Africa (156,638 tons), Canada (150,268 tons), Russia (128,619 tons) and Sweden (5,574 tons). The imports from South Africa and Canada were valued at $12.439 million and $13.259 million respectively.

The agglomerated iron ore imports by the UK in Feb ‘17 totaled zero, as against the imports of 132,308 tons during February 2016.

The UK’s non-agglomerated iron ore imports totaled 804,701 tons, increasing considerably by 51.4% from 531,396 tons in February 2016. Brazil was the primary exporter of non-agglomerated iron ore during the month. The imports from the country totaled 363,488 tons. The other key exporters were South Africa (156,638 tons), Canada (150,268 tons), Russia (128,619 tons) and Sweden (5,574 tons). The average price of monthly imports was up considerably by 86.0% during the month to $78.15 per ton. The non-agglomerated imports were valued at $62.889 million.

The UK iron ore imports during January to February this year totaled 1.364 million tons, increasing considerably by nearly 18% when compared with the imports during the corresponding period a year before. The imports had totaled 1.158 million tons during Jan-February 2016. The average price of imports increased significantly by over 55% to $80.91 per ton when matched with the average import price of $52.10 per ton during the initial two-month period last year. Also, the total value of imports skyrocketed by 82.8% year-on-year from $60.373 million to $110.363 million.

The largest exporter of iron ore to the UK during the two-month period was Brazil. The imports from the country totaled 518,741 tons, accounting for over 38% of the total imports. The imports from Brazil averaged at $78.55 per ton. The total value of imports from the country totaled $40.745 million. The other key exporters during Jan-Feb ’17 were Russia (254,856 tons), Canada (221,895 tons) and Sweden (168,573 tons).

The agglomerated iron ore imports during Jan-February ’17 totaled 204,029 tons, dropping sharply by nearly 46% over the previous year. Sweden was the key exporter of agglomerated iron ore to the UK during this period. The imports from Sweden totaled 162,999 tons, followed by Argentina with 41,030 tons.

The UK’s non-agglomerated iron ore imports totaled 1.160 million tons during the two-month period from January to February this year, increasing sharply by 49% from 778,757 tons during the same period a year before. Brazil was the primary exporter of non-agglomerated iron ore during this period. The imports from the country totaled 518,741 tons. The other key exporters were Russia (254,856 tons), Canada (221,895 tons) and South Africa (156,638 tons). The average price of monthly imports was up by 82.1% to $80.16 per ton. The non-agglomerated imports were valued at $92.987 million.