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Australia Iron Ore Export Shipments Surge 10% in Q2 CY’18

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

Jul 23, 2018 14:37
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