U.S. Exports of Iron Ore Surged Rapidly Till October

SEATTLE (Scrap Monster): The exports of iron ores and concentrates by the U.S. rose considerably by nearly 29% through October this year. The recent statistics published by the U.S. Census Bureau indicates that the exports totaled $819.66 million in Jan-Oct ’18, as compared with $635.96 million during the corresponding ten-month period last year. The year-to-date exports in 2018 have already outshined the total yearly exports of $752.02 million in 2017.

The top three trade partners were Canada, Japan and Mexico. The exports to Canada totaled $648.42 million, accounting for nearly 79% of the total U.S. exports. The U.S. reported over 31% jump in export volumes to that country over the previous year. The exports to Japan too increased, though marginally, to total $114.2 million. In third place was Mexico, which received $48.81 million worth of iron ore from the U.S.

The combined exports to the above three destinations totaled $811.43, representing almost 99% of all the iron ore exports by the U.S.

Meantime, the country’s iron ore imports dropped slightly during the initial ten-month period of the year. The imports were down by 1.65% from $463.65 million in Jan-Oct ’17 to $455.99 million through October this year. The leading sources of import were Brazil ($290.3 million), Canada ($62.91 million), Sweden ($53.41 million), Russia ($15.72 million) and South Africa ($8.3 billion).