China remains largest importer of Russian Iron Ore

RUSSIA August 02 2016 5:40 PM     

MOSCOW (Scrap Register): China remained the largest  importer of iron ore from Russia during May. The imports totaled 826000 tons,  accounting for nearly 46% of the total monthly exports. The exports from Russia  to the country averaged at $35.1 per ton.

The iron ore exports by  Russia recovered sharply during the month of Mat this year, according to the  trade statistics by Customs Committee of Russia. However, the exports during the  initial five-month period from January to May this year was still down  significantly when compared with the year-ago period.

The Russian iron  ore exports during May this year totaled 1.812 million tonnes, rising  significantly by 37% when compared with the exports during the same month a year  before. The exports had totaled 1.322 million tonnes during May 2015. The  average price of export dropped by 23.6% to $39.9 per tonne when matched with  the average export price of $52.23 per tonne during May last year.

The  Russian iron ore exports during May this year totaled 1.812 million tonnes,  rising significantly by 37% when compared with the exports during the same month  a year before. The exports had totaled 1.322 million tonnes during May 2015. The  average price of export dropped by 23.6% to $39.9 per tonne when matched with  the average export price of $52.23 per tonne during May last  year.

Another major exporter of iron ore, Chile also reported  considerable rise in export volume during the month of May this year. The  country’s iron ore exports jumped higher by 61% over the previous year to total  1.567 million tons. The country had exported 916,000 tons of iron ore during May  last year.