TAIPEI: Taiwan reported sharp decline in iron ore imports during the month of July this year. The imports were down by 22.7% when compared with the previous year.
The trade statistics released by the Taiwan’s Directorate General of Customs for the month of July 2015 indicates sharp fall in iron ore imports by the country. Taiwan’s iron ore imports during the month totaled 1.875 Million tonnes, down by 22.7% when compared with the imports during the same month a year ago. The import prices averaged at $60.8 per tonne, 39.8% lower year-on-year.
The largest exporter of iron ore to Taiwan during April this year was Australia. The imports from Australia totaled 1.453 Million tonnes, accounting for over 77% of the total imports by Taiwan during the month. The second largest source of iron ore import by the country was Brazil with 321,303 tonnes, followed by Canada with 101,028 tonnes.
The cumulative iron ore imports by Taiwan during the initial seven-month period of the year 2015 totaled 15.101 Million tonnes, significantly higher by 14.6% when matched with the imports of 13.176 Million tonnes during January to July in 2014. The average import prices were at $69.60 per tonne during the initial seven-month period this year, dropping sharply by 43.3% when compared with the average import price of $122.60 per ton during Jan-Jul ’14.
The top three exporters of iron ore to Taiwan during the seven-month period were Australia (10.684 Million tonnes), Brazil (3.736 Million tonnes) and Canada (679,109 tonnes).
