Canadian iron ore exports jumped 23% in January

By Carolina Curiel (ScrapMonster Author)

March 18, 2016 08:35:08 AM

MONTREAL (Scrap Monster): The latest released government statistics indicate significant surge in iron ore exports by the country. The exports during the month totaled 2.445 million tons, 22.8% higher when compared with the exports during the same month a year before. The country’s iron ore exports had totaled 1.99 million tons in January last year.

The exports included 1.626 million tons of concentrate and 819,000 tons of pellets. The export prices averaged at $67.4 per ton, falling sharply by 24% over the previous year.

The largest destination of Canadian iron ore was Belgium. The exports to Belgium totaled 908,000 tons during January this year. In second place was France with 387,000 tons. The other key export destinations of Canadian iron ore were China (367,000 tons) and Japan (303,000 tons).

Meantime, Brazil’s iron ore exports during Jan ’16 totaled 25.037 million tons, up by 7.4% when compared with the same month previous year. The country’s iron ore exports had totaled 23.311 million tons during January 2015. The iron ore export price averaged at $26.20 FOB per ton, substantially lower by 49% when compared with a year before. The value of iron ore exports out of the country totaled $655.97 million during the month.

The Australian iron ore exports totaled 57.772 million tons during the month. This is nearly 3.6% down when compared with the exports during corresponding month the previous year. The country had exported 59.929 million tons of iron ore during January 2015. The average export price during the month tumbled by over 38.5% to $36.40 per ton when matched with the previous year.