By Paul Ploumis
June 20, 2017 12:30:38 PM
SPOKANE (Scrap Monster): The iron ore imports by Mexico increased declined sharply by one-third during the month of February this year, says latest trade statistics released by the National Institute of Statistics and Geography (INEGI). This is when compared with the imports during the same month a year before.
The country’s iron ore imports totaled 144,960 tonnes during February 2017. This is down by 32.9% when matched with the imports during the corresponding month in 2016. The country had imported 216,117 tonnes of iron ore during February 2016. Meantime, the total value of imports by the country reported sharp 42.6% jump over the year from $9.272 million in February 2016 to $13.219 million in February this year. The average import price too has surged higher significantly by 112.6% year-on-year to $91.2 per tonne in Feb ’17. The Mexican iron ore imports had averaged at $42.9 per tonne in February 2016.
The largest exporter of iron ore to Mexico during the month was Brazil. The imports from Brazil totaled 131,150 tonnes, valued at $11.783 million. The import prices averaged at $89.8 per tonne. The USA exported 10,681 tonnes of iron ore to Mexico during the month. The imports from the US were valued at $1.235 million. The average price of import stood at $115.6 per tonne. In third place was Venezuela with 3,109 tonnes. The total value of imports from the country amounted to $189,000 million. The imports from the country averaged at $60.8 per tonne during February 2017. The other exporter of iron ore to Mexico was Norway with 20 tonnes.
The imports of agglomerated iron ore during February this year totaled 10,523 tonnes. Mexico had not imported agglomerated ore during February last year. The only exporter of agglomerated ore to Mexico was the US. The US agglomerated ore export to Mexico totaled 10,523 tonnes. The value of imports from the US amounted to $1.179 million during Feb ‘17. The average import price stood at $112 per tonne during the month.
The imports of non agglomerated iron ore totaled 134,437 tonnes, accounting for nearly 93% of the total imports by Mexico during February this year. The non-agglomerated iron ore imports by the country plunged by nearly 38% when matched with the imports of 216,117 tonnes imported during February 2016. The value of non-agglomerated iron ore imports has surged higher by 30% year-on-year to $12.040 million when matched with $9.272 million a year before.
The country imported non-agglomerated iron ore mainly from Brazil. The imports from Brazil totaled 131,150 tonnes at an average price of $89.8 per tonne. The value of iron ore imports from Brazil totaled $11.783 million. The other primary exporters of non-agglomerated iron ore to Mexico during Feb ’17 were Venezuela (3,109 tonnes), the USA (158 tonnes) and Norway (20 tonnes).
Meantime, the cumulative iron ore imports by Mexico during the initial two-month period of 2017 totaled 461,657 tonnes. The imports during the period surged higher by 53.2% when matched with the imports of 301,384 tonnes during the corresponding two-month period in 2016. The agglomerated ore imports totaled 161,037 tonnes, whereas the non-agglomerated imports totaled 300,620 tonnes.