News

Canada iron ore exports dropped sharply

Issued at 2015-09-26



According to latest trade statistics, the iron ore exports by Canada plunged heavily during the month of July this year. The exports during the month totaled 2.936 million tonnes, down nearly 34.1% when compared with the previous year. Canada’s iron ore exports during July ‘14 had totaled 4.453 million tonnes.

The export price of iron ore during the month averaged at $69.4 per ton. The average export prices have dropped by 32.4% when compared with the previous year. The iron ore exports had averaged at $102.7 during July last year.

The largest export destination of Canadian iron ore during the month of July this year was China with imports of 811,753 tonnes, accounting for nearly 28% of the total Canadian exports during the month. In second place was France with total imports of 539,054 tonnes. The Japanese imports of iron ore from Canada totaled 352,867 million tonnes during July this year.

The year-to-date iron ore exports by Canada during Jan-Jul ’15 totaled around 20.523 million tonnes, at an average price of $78.4 per ton. The YTD exports dropped by 11.8% when compared with the cumulative exports of 23.277 million tonnes registered during the initial seven-month period in 2014.

The largest importer of Canadian iron ore during the seven-month period of the year was France with imports of 3.79 million tonnes, accounting for almost 18.47% of the total Canadian exports during this period. In second place was the Netherlands with total imports of 3.167 million tonnes. The Chinese imports of iron ore from Canada totaled 2.962 million tonnes during January to July this year.

The annualized iron ore exports by the country during the entire year 2015 are projected at around 35 million tonnes.

 


Source: Hellenic Shipping News



Related News