By Paul Ploumis 15 Sep 2015 Last updated at 01:54:50 GMT
The iron ore imports by Argentina dropped sharply during the month of June this year, says recent trade statistics released by the country's National Institute of Statistics and Censuses (INDEC).
SAO PAULO (Scrap Monster): The trade statistics released by the National Institute of Statistics and Censuses (INDEC) of Argentina for the month of June this year indicates sharp decline in iron ore imports by the country. The country’s iron ore imports during the month totaled 487,801 tonnes, 24.55% lower when compared with the imports during the same month a year ago.
The key exporter of iron ore to Argentina during June this year was Brazil. The imports from Brazil totaled 461,801 tonnes. Out of this, imports of non-agglomerated iron ore totaled 241,705 tonnes and those of agglomerated iron ore totaled 220,096 tonnes. The imports of non-agglomerated iron ore from Brazil has dropped by 19.2% in comparison with the imports of 331,252 tonnes during June 2014. The agglomerated iron ore imports have dropped sharply by 30.2% over 315,322 tonnes imported during June last year.
The import prices of non-agglomerated iron ore averaged at $70.10 per tonne, falling sharply by 18.6% year-on-year. Meanwhile, the import prices of agglomerated iron ore averaged at $83.90 per tonne, significantly down by nearly 45% when compared with the average price of $152.4 per tonne during June 2014. The total value of imports amounted to $37.231 million, almost 51% lower when compared with the import value of $76.572 million during June 2014.
The cumulative iron ore imports by Argentina during the initial six-month period of the year totaled 2.445 Million tonnes, down by 18.3% when compared with the imports of 2.992 Million tonnes during January to June last year. Brazil accounted for nearly 99% of the iron ore imports by the country during this period.
The average import prices of non-agglomerated iron ore were at $67.7 per tonne during the six-month period this year, dropping sharply by 29.5% when matched with $96.10 per tonne during the corresponding six-month period in 2014. The average import prices of agglomerated iron ore dropped sharply by 38.2% year-on-year from $163.0 per tonne to $100.8 per tonne. The total value of imports dropped substantially by 48.5% year-on-year to $214.995 million during Jan-Jun ’15.