INDEC: Iron ore imports record 17% slump during 2016

The country's iron ore exports declined sharply during 2016, says the latest statistics released by the National Institute of Statistics and Census (INDEC) of Argentina.

SEATTLE (Scrap Monster): The country's iron ore imports declined sharply during the whole of 2016, says latest statistics released by the National Institute of Statistics and Census (INDEC) of Argentina.

Argentina’s iron ore imports totaled 4.345 million tonnes during the entire year 2016. This is lower by 16.5% when matched with the imports during 2015. The country had imported 5.206 million tonnes of iron ore during 2015. On the other hand, the total value of imports by the country has increased marginally by nearly 4.3% over the year from $427.996 million in 2015 to $446.258 million in 2016. The average export price has dropped considerably by 12.5% year-on-year to $72.23 per tonne CIF in 2016. Incidentally, Argentina’s iron ore imports had averaged at $82.55 per tonne CIF during the whole year 2015.

The largest exporter of iron ore to Argentina during the year was Brazil. The imports from Brazil totaled 4.112 million tonnes, valued at $296.211 million. The import prices averaged at $73.10 per tonne. Canada exported 185,966 tonnes of iron ore to Argentina during 2016. The imports from Canada were valued at $145.990 million. The average price of import stood at $78.5 per tonne. In third place was Norway with 46,414 tonnes. The total value of imports from the country amounted to $4.050 million. The imports of iron ore from Norway by Argentina averaged at $87.30 per tonne during last year.

The imports of agglomerated iron ore during 2016 totaled 2.110 million tonnes, significantly down by 28.1% when compared with the year before that. Argentina’s agglomerated iron ore imports had totaled 2.935 million tons during 2015. The value of imports amounted to $180.659 million during 2016. The import value has dropped considerably by nearly 35% when compared with the prior year. The country’s agglomerated iron ore imports were valued at $276.473 million during 2015. The import prices of agglomerated ore saw considerable decline of 9.1% over the year. The average import price edged lower from $94.2 per tonne in 2015 to $85.6 per tonne in 2016.

The largest exporter of agglomerated iron ore to Argentina was Brazil. The imports by the country from Brazil totaled 1.878 million tonnes. The value of iron ore imports from Brazil totaled $160.618 million. The imports averaged at $85.50 per tonne. The second largest supplier of agglomerated iron ore to Argentina during 2016 was Canada. The imports from Canada totaled 185,966 tonnes at an average price of $78.5 per tonne. The value of imports totaled $145.990 million during the year. The other key exporter was Norway. The imports from Norway totaled 46,414 tonnes. The value of imports amounted to $4.050 million. The imports from Norway averaged at $87.3 per tonne.

The imports of non agglomerated iron ore totaled 2.235 million tonnes, accounting for nearly 51% of the total exports. The non-agglomerated iron ore imports by Argentina declined marginally by 1.6% when matched with 2.271 million tonnes imported during 2015. The value of non-agglomerated iron ore imports has declined sharply by nearly 10.5% year-on-year to $135.600 million in 2016 from $151.523 million a year before.

The country imported non-agglomerated iron ore mainly from Brazil. The imports from Brazil totaled 2.235 million tonnes at an average price of $60.7 per tonne. The value of iron ore imports from Brazil totaled $160.618 million.

• Panama President Sees No Environmental Threat from Copper at Closed First Quantum Mine
• Consumers Sue Exxon, Dow, Others over Plastic Recycling Claims
• VLS Environmental Solutions Announces Acquisition of Clearfield MMG in Virginia
• December 19, 2024: Scrap Gold and Platinum Prices Dipped, Silver Up on the Index