China's iron ore import principal changed

November 3 MetalBiz--It is reported on November 3 that the principal of China's imported ore is quietly changing. The priority in price is replaced by country regions. Data of imported ore from Customs on October 30 according to countries reflected this principal.

Statistics showed that in the first nine months this year, the five leading importers of China were Australia, Brazil, India, South Africa and Ukraine. The distributions and price in countries changed significantly. On one hand, it increased the purchase from countries excluding Australia and Brazil, especially Ukraine and South Africa with surges of 91.3% and 144% respectively year on year, far higher than that of Australia and Brazil. On the other hand, CIF price presented great difference with the countries, whether far or near to China, there is nearly a CIF price, which embodied the position of sellers in iron ore market.

Thereinto, the average CIF price of Australian ore was U.S. $75.4 per ton. The export totaled 197mln tons, an increase of 39.5% year on year. The imported Brazilian ore reached 102mln tons, up 31.4% from 77.61mln tons from the same period last year, valued U.S. $9.1bln and the CIF price averaged U.S. $89.2 per ton. The imported Indian ore amounted to 82.68mln tons, up 31% from 73.10mln ton in one year earlier, valued U.S. $5.54bln and the CIF price averaged U.S. $67 per ton. The iron ore import from South Africa stood at 26.53mln tons, up 144% year on year, valued U.S. $2.2bln and CIF price averaged U.S. $82.9 per ton. The iron ore import from Ukraine was 11.40mln tons, up 91.3% year on year, valued U.S. $990mln and the average price was at U.S. $86.8 per ton.

From CIF price, although the price of South Africa and Ukraine is higher than Australia and India, China's purchase is increasing significantly.