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Iron ore price of NMDC remains unchanged

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The trade statistics released by the Taiwanese Customs Authorities for the month of October 2014 indicates sharp rise in iron ore imports by the country. Taiwan’s iron ore imports during the month totaled 2.083 million tonne, higher by 23.2% when compared with the imports during the same month a year ago. The import prices averaged at USD 84.9 per tonne, 13.8% lower YoY.

The largest exporter of iron ore to Taiwan during October this year was Australia. The imports from Australia totaled 1.452 million tonne, accounting for nearly 70% of the total imports by Taiwan during the month. The 2nd largest source of iron ore import by the country was Brazil with 543,711 tonne, followed by Canada.

The cumulative iron ore imports by Taiwan during the initial 10 month period of the year 2014 totaled 19.150 million tonne, slightly higher by 2.8% when matched with the imports of 18.630 million tonne during January to October in 2013. The average import prices were at USD 114.2 per tonne during 2014, dropping sharply by 13.8% when compared with the average import price of USD 132.4 per tonne during January to October 2013.

The top 3 exporters of iron ore to Taiwan during the 10 month period were Australia 13.054 million tonne, Brazil 4.939 million tonne and Canada 955,256 tonne.

Source – metal

Zhejiang Yaang Pipe Industry Co., Limited

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