By Anil Mathews (ScrapMonster Author)

April 15, 2016 04:50:51 AM

BEIJING (Scrap Monster): The trade statistics released by the Taiwan’s Directorate General of Customs for the month of January 2016 indicates sharp jump in iron ore imports by the country.

Taiwan’s iron ore imports during the month totaled 1.649 Million tonnes, higher by 22% when compared with the imports during the previous month. The import prices averaged at $45.9 per tonne, over 12% lower month-on-month. The iron ore import prices during Dec ’15 had averaged at $52.2 per tonne. The country’s iron ore imports were valued at

The largest exporter of iron ore to Taiwan during January this year was Australia. The imports from Australia totaled 1.252 Million tonnes, accounting for nearly 76% of the total imports by Taiwan during the month. Taiwan’s iron ore imports from Australia surged higher in comparison with 744,841 tonnes imported during December last year. The price of iron ore import from the country averaged at $41.5 per tonne, significantly lower when matched with the average import price of $47.3 per tonne during the previous month.

The second largest source of iron ore import by the country was Brazil with 396,569 tonnes, dropping considerably when compared with the imports of 496,166 tonnes during the previous month. The average import price increased marginally from $57.8 per tonne in Dec ’15 to $59.5 per tonne in Jan ’16.

The third largest exporter of iron ore to Taiwan was Philippines with 766 tonnes. Taiwan had nil imports of iron ore from Philippines during December 2015.

The Customs data also indicate that the country’s pig iron output totaled 2.09 million tonnes during the initial two-month period of the year.