Diversity Of Sources For PRC Iron Ore Imports

摘要

Iron ore imports into China recorded a quarterly all-time high of 198 Mt in the 2q13 (see chart, right) despite a four-month low in June of 62.3 Mt. This brings imports for the 1h13 to 384.5 Mt, marking an annual gain of 14.5 Mt or 4%. By excluding shipments to China from Australia, Brazil and India, the second chart (below) shows that the variety of sources for China's iron ore imports is greater than ever this year. Alongside the rapid expansion in Australian iron ore exports, such diversification has done much to offset the dramatic declines in Indian ore availability, which this year has dwindled to an average of roughly 1 Mt/month as a result of the mining ban in Goa and an export tax rate of 30%.