Canada iron ore exports surged over 10% in October

By Carolina Curiel (ScrapMonster Author)

December 15, 2015 07:42:54 AM

MONTREAL (Scrap Monster): The iron ore exports by Canada surged higher by over 10% during the month of October this year. Among provinces, Quebec topped with total exports of 1.908 Mt. The iron ore exports totaled 3.751 Mt during the month, higher by 10.3% when matched with the exports of 3.403 Mt during the same month a year before.

The exports of iron ore concentrates from Quebec totaled 1.312 Mt during October this year, followed by Newfoundland and Labrador with 1.026 Mt. The iron ore concentrate exports totaled 2.338 Mt, significantly higher by 4.0% when compared with the exports of 2.247 Mt during October 2014. The cumulative iron ore concentrate exports by the provinces dropped sharply by 16.1% from 22.173 Mt during Jan-Oct ’14 to 18.606 Mt during January to October this year.

The pellet exports from Newfoundland totaled 816,679 tons. The prices averaged at $64.30 per ton. Quebec exported 596,710 tons of iron ore pellets at an average price of $119.60 per ton. The pellet exports during the month surged higher by 22.3% from 1.155 Mt tons in October ’14 to 1.413 Mt in October this year. The cumulative pellet exports during the initial ten-month period of the year rose 8.8% year-on-year from 11.735 Mt to 12.772 Mt.

The value of iron ore exports by Canada during October ’15 totaled $256.608 million, significantly lower by 20.4% when compared with the iron ore export value of $322.534 million during October last year. The export prices witnessed sharp year-on-year decline of 27.8% from $94.8 per ton in October 2014 to $68.4 per ton in October ’15. Also, cumulative iron ore exports by the country during the period from January to October this year totaled 31.378 Mt, 7.5% lesser when compared with the previous year.