Australia - world's largest iron ore exporter has
recorded increase in export shipments in the second quarter of CY’18.
According to the vessel line up data maintained with
SteelMint, Australia's iron ore export shipments increased by 10% Q-o-Q to 225.
6 MnT in Q2 CY’18 compared to 205.9 MnT in Q1 CY’18.
However, on yearly basis the Q2 CY’18 exports a
marked of 7% increase against 210.2 MnT in Q2 CY’17.
In H1 CY’18 Australian iron ore exports has increased
by 6% to 431.5MnT compared to 408.43MnT in the same period last year 2017.
In June’18, Australian iron ore exports witnessed at
75.4 MnT, down marginally against 78.2 MnT in May’18. However, on yearly basis
exports depicted 8% increase against 70 MnT in June’17.
China is largest destination (contributing 80- 85%)
of Australian iron ore exports, hence, a change in Chinese market affects
Australian exports. Chinese’s government strict environmental norms rendering
shift towards high grade iron ore, in turn creating better opportunities for
Rio Tinto and BHP Billiton (producers of high grade iron ore from Pilbara
region).
Indian iron ore imports Increased by 17% in Q2 CY’18
China marked the largest importer of Australian iron
ore at 185.4 MnT, in Q2 CY’18 up 10% against 167.9 MnT Q1 CY’18.
Japan stood the second largest importer in Q2 CY’18
at 17.0 MnT (down 15% Q-o-Q), followed by Korea at 14.2 MnT (up 33% Q-o-Q).
India witnessed increase in imports at 1.6 MnT , up 17% Q-o-Q.
Vietnam, Indonesia and Netherland have witnessed
significant rise in quarterly imports in Q2 CY’18. Vietnam at 1.4 MnT ( up by
more than four folds), Indonesia at 0.9 MnT (up by more than twice) and
Netherland at 0.2 MnT.
China continued to record highest imports from
Australia in June'18 with 82% of total Australian export share. It depicted
exports down marginally by 3% to 62.1 MnT in June'18 as against 63.7 MnT in
May'18. Japan at 5.8 MnT stood the second highest importer of Australian iron
ore in June'18 (down 3% M-o-M) as against 6.0 MnT in May'18.
Source: steelmint