Bilateral Trade

China ore imports from India continue decline in Oct

(Agencies)
Updated: 2010-11-23 13:50

BEIJING - China October ore imports from India stood at 2.91 million tons, down 39 percent since September and 44 percent compared with the same period of last year.

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India accounted for 6.4 percent of China's total ore imports in October, down from 9 percent in September and almost 20 percent in May, before the monsoon season disrupted shipments.

Ore sourced from Brazil rose 3.3 percent in October to 11.78 million tons, while Australian imports fell 20 percent from September to 20.72 million tons.

Total imports in October stood at 45.715 million tons, down 13.1 percent compared with the previous month.

The big three suppliers accounted for 77 percent of total deliveries, down from 80 percent in September, with some of the slack taken up by Iran, Ukraine and Russia.

India banned exports from the key iron ore producing state of Karnataka in July as part of a campaign against illegal mining, and the ban was upheld by court last Friday.

With Indian demand for iron ore set to surge as steel capacity increases, Chinese importers and end-users are expecting imports from India to decline steadily in coming years.