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Exports of iron ore by Russia soared 85% in January

2017.04.27 533 Font size: A- A A+

SEATTLE (Scrap Monster): The most recent trade data published by the Customs Committee of Russia indicates sharp surge in iron ore exports by the country during the first month of this year. The outbound shipments of the steel making raw material soared by 85% over the previous year. The average export prices were up by 39.4% during the month. Meantime, the total value of exports skyrocketed by 158.5% when matched with the corresponding month last year. As per trade data, Russia’s exports of iron ore totaled 1.579 million tonnes in January 2017. The exports surged higher significantly by 85.4% when matched with the exports during the same month a year before. The Russian iron ore exports had totaled 851,368 tonnes in January 2016. The value of exports recorded a phenomenal jump of 158.5% from $35.176 million in Jan ’16 to $90.919 million in January this year. The average export price too was up by 39.4% over the previous year to $57.6 per tonne. The iron ore exports had averaged at $41.3 per tonne during Jan ’16. The key destination of Russian iron ore exports was Poland. The exports to Poland totaled 344,440 tonnes, accounting for more than one-fifth of the total Russian exports. The export prices to Poland averaged at $53.9 per tonne. The value of exports amounted to $18.579 million. The second largest importer of Russian ore was China with 234,344 tonnes at an average price of $40.1 per tonne. The other main importers were Turkey (229,238 tonnes), Germany (196,506 tonnes), Finland (129,698 tonnes) and Netherlands (111,416 tonnes). The exports of non-agglomerated iron ore jumped higher significantly during January this year. The exports totaled 798,088 tonnes, significantly higher by 67.1% over the same month in 2016. The Russian non-agglomerated iron ore exports had totaled only 477,508 tonnes in January 2016. The value of exports surged higher by 145.7% from $14.047 million in Jan ’16 to $34.517 million in January this year. The export price too climbed higher by 47% from $29.4 per tonne to $43.2 per tonne. The top destination of Russian non-agglomerated ore exports was Poland. The exports totaled 299,983 tonnes. The other main importers during the month were China (204,314 tonnes), Netherlands (111,416 tonnes), Czech Republic (110,629 tonnes), Slovakia (48,980 tonnes) and Hungary (22,746 tonnes). Russia’s exports of agglomerated iron ore surged higher by 108.8% year-over-year to 780,514 tonnes in January this year. The country had exported only 373,860 tonnes in Jan ’16. The value of exports totaled $56.402 million. The export price of agglomerated ore averaged at $72.3 per tonne during the month. The primary agglomerated ore importer from Russia was Turkey. The Turkish imports of Russian agglomerated ore totaled 229,238 tonnes, almost 10 times higher when compared with the imports of 29,246 tonnes in Jan ’16. In second place was Germany with imports of 196,506 tonnes. The exports to Germany were valued at $14.465 million. The other countries which imported notable quantities of agglomerated ore from Russia were:- Finland (129,698 tonnes), France (74,487 tonnes), Slovakia (53,347 tonnes), Poland (44,457 tonnes), China (30,030 tonnes) and Serbia (17,843 tonnes).