Chinese iron ore imports up 8% in H1 CY'20
Imports from Australia picked up by 9% at about 348 mn t in H1 CY'20 against 320 mn t in H1 CY'9.
Average global iron ore fines (Fe 62%) prices were slightly lower at $91/t in H1CY'20 compared with $92/t in H1 CY'19.
Import of iron ore from Brazil fell by 5% on fewer shipments by Vale. Vale's total iron ore production in H1 CY'20 was reported at 127.2 mn t, down by 7% compared to 136.9 mn t in H1 CY'19 due to corona virus related 12 day suspension of operations at its Itabira mining complex.
Lower imports from Vale were offset by increased purchases from Rio Tinto and BHP. Rio Tinto's Pilbara iron ore shipments were recorded at 15.6 mn t for H1 CY'20, up by 3% from 154.7 mn t in H1 CY'19. BHP's total iron ore sales from Pilbara on a 100% basis was at 145.4 MnT for H1 CY'20, up by 8% from 135.1 MnT in H1 CY'19.
Indian exports increased significantly in H1 CY'20 to China. With key iron ore mining leases expiring on 31 Mar'20, Odisha merchant miners remained active in export bookings to clear their stocks by 30th Sep'20.