Author: Paul Ploumis
12 Feb 2015 Last updated at 05:00:36 GMT
BERLIN (Scrap Monster): According to the latest import statistics published by the European Steel Association (EUROFER), the iron ore imports by Germany surged higher by 23% during the month of Oct ’14. This is in comparison with the imports during the previous month.

The iron ore imports by the country during Oct ’14 totaled 4.2 million tonnes, 23.53% higher when compared with the imports during the previous month. The iron ore imports had totaled 3.4 million tonnes in Sep ’14. Meantime, the average import prices dropped sharply from $99.8 per tonne in Sep ’14 to $92.8 per tonne in Oct ’14. The total value of imports amounted to $389.777 million during Oct ’14, significantly higher when compared with the import value of $339.274 million during the month before.

The largest iron ore exporter to Germany during October last year was the Netherlands. Germany’s iron ore imports from the country totaled 2.668 million tonnes, accounting for more than 63% of the total imports by Germany during the period. The iron ore imports from Netherlands averaged at $87.3 per tonne during the month. Germany’s iron ore imports from the country surged higher during the month when compared with the 1.445 million tonnes imported during Sep ’14.

The second largest exporter to Germany during Oct ’14 was Brazil with 630,000 tonnes. In third place was Sweden with exports to Germany totaling 383,000 tonnes during the month. The other key exporters of iron ore to Germany were Ukraine (107,000 tonnes) and Russia (37,000 tonnes).