China Iron Ore Imports Fall 3% in 9M CY19

--China iron ore imports dropped by 3% to 764 MnT in 9M CY'19 against 790 MnT in 9M CY'18.

--Export volumes from Australia - world's largest iron ore exporter fell by 4% for China. Exports have significantly dropped to 497 MnT against 517 MnT in 9M CY'18.

--In Mar'19, Australian Pilbara region was hit by cyclone resulting in suspension of Port Hedland, Dampier and Cape Lambert affecting the normal operations at the port. As a result, the exports by the major miners, BHP Billiton, FMG and Rio tinto were hampered.

--Rio Tinto 2019 Pilbara iron ore shipment guidance is reduced to 320-330 MnT as against 333-343 MnT previously.

--Exports from Brazil have also impacted and volumes dropped by 6% in 9M CY'19. Vale underwent collapse at its dam at Corrego do Feijao mine in Minas Gerais in Brumadinho, Brazil on 25th Jan'19. Post which the miner had to shut operations at numerous mines and expects loss in production for the year.

--Iron ore exports from Iran to China has fell by 32%. Iranian Mines & Mining Industries Development & Renovation (IMIDRO), the Iranian government planned to impose a 25% tariff on iron ore exports from 1st Oct'19. The policy of tariffs is mostly to avoid exporting raw iron ore, creating more additional value, and meet the requirements from domestic steel industries.

--On the other hand India's iron ore exports has observed a jump by 46%. Sharp increase in iron ore fines export from Odisha pushed up overall export volumes from India.