Singapore (Platts)--22Jan2013/421 am EST/921 GMT
China imported 20 million mt of iron ore from Brazil in December, up 50% year on year, data released Tuesday by the General Administration of Customs of China showed. The imports were also up 43% from November. Brazilian miner Vale sold 2.53 mil mt or 19 parcels of spot iron ore in October, 4.29 mil mt or 38 cargoes in November, and 548,572 mt or eight cargoes in December, Platts data showed. A Shanghai-based trader said that Vale tried to sell as many cargoes as possible before the rains set in the later half of December, and it had sold an average of two iron ore cargoes through spot tenders almost every day in November. "Most cargoes bought earlier in late October or November would have arrived in December, which explains the spike in imports of Brazilian iron ore," the trader said. Article continues below...Request a free trial of: Steel Markets DailySteel Markets Daily provides transparent daily and weekly assessments of iron ore, coking coal, coke, ferrous scrap and ferroalloys prices, plus insightful analysis and commentary on the day's market activities.
China imported 20 million mt of iron ore from Brazil in December, up 50% year on year, data released Tuesday by the General Administration of Customs of China showed. The imports were also up 43% from November. Brazilian miner Vale sold 2.53 mil mt or 19 parcels of spot iron ore in October, 4.29 mil mt or 38 cargoes in November, and 548,572 mt or eight cargoes in December, Platts data showed. A Shanghai-based trader said that Vale tried to sell as many cargoes as possible before the rains set in the later half of December, and it had sold an average of two iron ore cargoes through spot tenders almost every day in November. "Most cargoes bought earlier in late October or November would have arrived in December, which explains the spike in imports of Brazilian iron ore," the trader said.
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Steel Markets Daily provides transparent daily and weekly assessments of iron ore, coking coal, coke, ferrous scrap and ferroalloys prices, plus insightful analysis and commentary on the day's market activities.
The journey from port Tubarao to China typically takes about 45 days. Australia remained top supplier of iron ore to China, accounting for 47% of the country's total imports in December compared with 51% in November. Iron ore imports from Australia reached 33.66 million mt in December, up 1% month on month and also 15% year on year, the data showed. Meanwhile, imports from India reached 285,831 mt in December, soaring 84% from the previous month but plummeting 94% year on year. A trading source attributed the spike in iron ore offers from India from November to the rise in the price for 62%-Fe Iron Ore Index since early December. Imports from India have been declining, however, as New Delhi hiked export duties to 30% from 20% on December 30, 2011. Separately, the ban on mining in the states of Karnataka and Goa have also limited availability of Indian iron ore for China. Mining operations in Karnataka have been banned since August 2011, pending investigations into illegal mining activities. In addition, mining in Goa was banned in September 2012 following a probe being carried out into illegal mining activities.--Melvin Yeo, melvin_yeo@platts.com--Edited by E Shailaja Nair, shailaja_nair@platts.com
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