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Iron Ore February 16, 2018 09:30:26 AM

Iron Ore Exports by Sweden Soared 2%: EUROSTAT

Paul Ploumis
ScrapMonster Author
The largest destination of iron ore exports from Sweden was Germany. The exports to that country totaled 5.037 million tonnes during the first ten-month period in 2017.

Iron Ore Exports by Sweden Soared 2%: EUROSTAT

SEATTLE (Scrap Monster):  The trade statistics published by the European Union Statistics Office (EUROSTAT) suggests marginal jump in cumulative iron ore export volumes by Sweden during the initial ten-month period last year. The monthly exports declined sharply during October 2017.

In accordance with EUROSTAT data, Sweden exported 19.610 million tonnes of the steelmaking raw material during Jan-Oct ’17. This is higher by 2% when compared with the corresponding ten-month period in 2016. The country had shipped 19.232 million tonnes during January to October in 2016. The total value of exports surged higher significantly by over 40% from $1.338 billion in 2016 to $1.877 billion in 2017. The per tonne export price too were up sharply over the year from $69.6 to $95.7.

ALSO READ: Brazil's Iron Ore Exports Leaped 9% in November

The largest destination of iron ore exports from Sweden was Germany. The exports to that country totaled 5.037 million tonnes during the first ten-month period in 2017. The exports averaged at $87.5 per tonne, generating a total value of approximately $440.7 million. The second largest importer was Saudi Arabia with imports totaling 2.280 million tonnes. The other key markets of Sweden’s iron ore exports were the UK (1.9 million tonnes), the Netherlands (1.71 million tonnes) and Finland (1.55 million tonnes).

Meantime, the monthly iron ore export volumes recorded sharp decline in October 2017. The exports dropped by more than 8% from 2.24 million tonnes in Oct ’16 to 2.05 million tonnes in October last year. The value of exports surged higher by 16% over the previous year. The average export price too witnessed notable increase from $74.1/tonne to $93.9/tonne. The primary importers during the month were Germany (772,783 tonnes), the Netherlands (245,136 tonnes), Finland (212,221 tonnes), Saudi Arabia (175,594 tonnes) and Belgium (170,821 tonnes).

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