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Taiwan iron ore imports fall 6% in Oct

Taiwan iron ore imports fall 6% in Oct

TAIPEI: The trade statistics released by the Taiwan’s Directorate General of Customs for the month of October 2015 indicates sharp fall in iron ore imports by the country. Taiwan’s iron ore imports during the month totaled 1.959 Million tonnes, down by 6% when compared with the imports during the same month a year ago. The import prices averaged at $61.6 per tonne, 27.5% lower year-on-year. The iron ore import prices during Oct ’14 had averaged at $85 per tonne.

The largest exporter of iron ore to Taiwan during April this year was Australia. The imports from Australia totaled 1.290 Million tonnes, accounting for over 65% of the total imports by Taiwan during the month. The second largest source of iron ore import by the country was Brazil with 580,160 tonnes, followed by Canada with 88,960 tonnes.

The cumulative iron ore imports by Taiwan during the initial ten-month period of the year 2015 totaled 20.506 Million tonnes, significantly higher by 7.1% when matched with the imports of 19.150 Million tonnes during January to October in 2014. The average import prices were at $66.00 per tonne during the initial ten-month period this year, dropping sharply by 37.1% when compared with the average import price of $113.00 per ton during Jan-Oct ’14.

The top three exporters of iron ore to Taiwan during the initial ten-month period of the current year were Australia (14.448 Million tonnes), Brazil (5.131 Million tonnes) and Canada (923,995 tonnes).