As per latest export
import statistics released by the Malaysian Trade Ministry, the country’s iron
ore imports surged significantly during the initial eleven months of the
previous year. On the other hand, the country’s iron ore exports dropped
slightly during the period.
According to trade data, the country’s imports
of iron ore totaled 3.72 million tonnes during January to November last year.
The imports during the period jumped higher by 120.48% when compared with the
imports during the corresponding eleven month period in 2013.
Bulk of the Malaysian imports was from Brazil.
The imports from Brazil totaled 3.33 million tonnes accounting for almost 90%
of the total imports by the country during the period. The imports of iron ore
lumps and fines from Brazil surged higher by 139.4% YoY during the period. The
iron ore pellet imports too rose 35.8% during January to November 2014.
Malaysia exported 10.34 million tonnes of iron
ore during the initial eleven month period in 2014. The exports from the
country dropped by nearly 10% when compared with the exports of 11.48 million
tonnes during the corresponding eleven month period in 2013.
The largest export destination of Malaysian iron
ore was China. The exports to China accounted for over 96% of the country’s
total exports during the year. The country’s iron ore exports to Malaysia
totaled 9.95 million tonnes during January to November 2014 as compared with
11.33 million tonnes during a year ago. On YoY comparison, the country’s
exports to China during 2013 were down 12.15%.
Source- steelguru