Japanese Iron ore imports inches higher in January

The net import of iron ore by Japan during the month of Jan 2013 has increased marginally by 3.3% compared to the same month previous year. The net imports of iron ore were 11.669 million tons during the month.

TOKYO (Scrap Monster) : The net import of iron ore by Japan during the month of Jan 2013 has increased marginally by 3.3% compared to the same month previous year. The net imports of iron ore were 11.669 million tons during the month.

However the prices of iron ore witnessed a sharp fall year-on-year. The average import price of iron ore in January 2013 were USD 125.09 per ton CIF. The average price fell by a whopping 30.2% from USD $179.23 per ton CIF in January 2012.

Out of the total 11.669 million tons imported during the month, 6.899 million tons were imported from Australia, 3.381 million tons were from Brazil and 920,000 tons were from South Africa.

The average price per ton CIF for imports from Australia, Brazil and South Africa were 115.08, 140.72 and 139.75 respectively.

It should be noted that the Japanese net iron ore imports had surged in 2012 by 2.1% year-on-year. Also imports from Australia and Brazil have gone up by 0.6% and 3% respectively from 2011.

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