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Iron Ore April 21, 2015 11:30:30 AM

Iron Ore exports from Canada slump in Feb '15

Paul Ploumis
ScrapMonster Author
According to latest trade statistics, the iron ore exports by Canada dropped during the month of February this year
Iron Ore exports from Canada slump in Feb '15

TORONTO (Scrap Monster): According to latest trade statistics, the iron ore exports by Canada dropped during the month of February this year. The exports during the month totaled 2.76 million tons, down nearly 10% when compared with the previous year. Canada’s iron ore exports during Feb ‘14 had totaled 3.07 million tons.

The export price of iron ore during the month averaged at $89 per ton. The average export prices have dropped by 17.3% when compared with the previous year.

The largest importer of Canadian iron ore in February this year was the Netherlands. The imports by the Netherlands totaled 552,000 tons, accounting for nearly one-fifth of the total exports by Canada.

The yearly iron ore exports by Canada had increased during 2014. The exports during the year totaled 40.3 million tons, up nearly 6% when compared with the previous year. Canada’s iron ore exports during 2013 had totaled 38.02 million tons.

The yearly iron ore exports by Canada are projected to drop significantly over the previous year in 2015.