TOKYO (Scrap Monster): The trade statistics released by the Japanese Ministry of Finance (MoF) for the month of February this year indicates marginal rise in iron ore imports by the country. The Japanese iron ore imports during the month totaled 10.866 Million tonnes, 7.5% higher when compared with the imports during the same month a year ago. The import prices averaged at $85.26 per tonne, nearly 35% lower year-on-year.
The largest exporter of iron ore to Japan during February this year was Australia. The imports from Australia totaled 5.887 Million tonnes, accounting for over 54.2% of the total imports by Japan during the month. The second largest source of iron ore import by Japan was Brazil with 3.378 Million tonnes, followed by South Africa (857,085 tonnes), Canada (333,960 tonnes), Ukraine (168,399 tonnes) and India (146,931).
The cumulative iron ore imports by Japan during the initial two-month period of the year totaled 21.897 Million tonnes, down marginally by 1.5% when compared with the imports of 22.240 Million tonnes during January to February last year. The average import prices were at $87.59 during the two-month period this year.
The top three exporters of iron ore to Japan during the two-month period were Australia (13.098 Million tonnes), Brazil (5.724 Million tonnes) and South Africa (1.433 Million tonnes).Author: Paul Ploumis06 Apr 2015 Last updated at 05:20:11 GMT