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Iron Ore March 06, 2019 11:45:28 AM

Iron Ore Imports by Japan Recorded Drastic Decline

Paul Ploumis
ScrapMonster Author
The non-agglomerated ore imports totaled 8.412 Mt, accounting for bulk of the imports.
Iron Ore Imports by Japan Recorded Drastic Decline

SEATTLE (Scrap Monster): The facility troubles at Japanese steelworks resulted in sharp drop in imports of the steelmaking raw material by the country during the first month of 2019. The data released by the country’s Ministry of Finance (MoF) indicates 13.5% year-on-year decline in iron ore imports in Jan ’19. The Japanese iron ore imports totaled 9.177 million tons (Mt) in January 2019. This compares with the imports of 10.615 Mt in January last year. The import prices averaged at $72.41 per ton during the month.

The largest source of import was Australia. The imports from that country totaled 5.641 Mt, accounting for more than 61% of the total imports. In second place was Brazil with supplies of 2.213 Mt. The other key suppliers were South Africa (464,640 tons), Canada (242,189 tons) and the U.S. (228,749 tons).

The non-agglomerated ore imports totaled 8.412 Mt, accounting for bulk of the imports. Over the prior year, the imports have dropped sharply by over 10%. The top three import sources of non-agglomerated iron ore were Australia (5.641 Mt), Brazil (1.845 Mt) and South Africa (464,640 tons). The import prices averaged at $68.03 per ton.

Meantime, the agglomerated ore imports recorded drastic decline by 38.5% over the year. The imports dropped from 1.244 Mt in Jan ’18 to 765,158 tons in January this year. The primary import sources were Brazil (368,295 tons), the U.S. (228,749 tons), Canada (150,033 tons) and Ukraine (18,081 tons). The average price of import stood at $120.55 per ton during the month, MoF data said.