Bahrain Iron Ore & Pellet Exports Down 79%; Imports Up 38% in Jan'20

Bahrain iron ore and pellet exports in Jan'20 recorded at 0.22 MnT, down 79% as against 1.04 MnT in Dec'19. On yearly basis, exports witnessed significant drop by 63% as compared to 0.6 MnT in Jan'19.

Reduced demand by major importers such as China amid Chinese new year holidays from 24th Jan followed by outbreak of Coronavirus, led to reduced demand by steel mills in China.

o Saudi Arabia turned the largest importer of iron ore and pellet in Jan'20 at 0.13 MnT, down 32% as against 0.19 MnT in Dec'19.

o Oman stood second largest importer at 0.1 MnT, down 66% against 0.29 MnT in Dec'19.

o Towards early Apr19, Bahrain Steel unveiled its plans to double its pellet production over the next 10 years. In 2018, the company achieved the landmark production and passed the milestone of having produced 100 MnT of pellets since its inception.

o Bahrain Steel - wholly owned company of Foulath Holding, has signed a 20 year agreement with Anglo American Marketing Limited for pellet supply for its plant in Hidd region. As per the reports, demand for iron ore pellet is increasing specially in MENA (Middle-east and North Africa) region with the expected demand to reach 46 MnT by 2027. The contract will be a step ahead for the company to deliver quality product customers in the MENA region and beyond, relying on Bahrain Steel for their supply of DR pellets.

Bahrain iron ore imports up 38% in Jan'20
Bahrain iron ore and pellet imports in Jan'20 recorded at 0.65 MnT, up 38% as against 0.47 MnT in Dec'19. Brazil stood the sole exporter of iron ore to Bahrain for the month. On yearly basis, imports witnessed significant drop by 34% as compared to 0.98 MnT in Jan'19.

Qty in MT
Source: Customs