According to China's General Administration of Customs, in the January to September period of 2012, China imported 31.13 million tonne of iron ore from South Africa, up 17.8% YoY and accounting for 5.7% of China's total volume of iron ore imports.
Meanwhile, in the given period, China imported 32.35 million tonne of iron ore from India, down 47% on YoY basis and consisting of 5.8% of China's total iron ore imports.
Many market players have predicted that if the above trend continues South Africa may replace India as China's 3rd largest source of iron ore imports, after Australia and Brazil.
In 2011, India has been a important source of iron ore imports for China, with its iron ore exports to China amounting to 123 million tonne in 2009, accounting for 25% of China's total iron ore imports in the year in question.
However, the Indian government has since restricted iron ore exports by increasing export taxes and railway freight charges, as part of its efforts to support Indian domestic steel production. In the months from June to September 2012, India's iron ore exports to China amounted to 4.82 million tonne, 2.53 million tonne, 1.625 million tonne and 788,000 tonne respectively, indicating sharp MoM declines.
Source – SteelOrbis
South Africa may replace India third iron ore supplier to China
Meanwhile, in the given period, China imported 32.35 million tonne of iron ore from India, down 47% on YoY basis and consisting of 5.8% of China's total iron ore imports.
Many market players have predicted that if the above trend continues South Africa may replace India as China's 3rd largest source of iron ore imports, after Australia and Brazil.
In 2011, India has been a important source of iron ore imports for China, with its iron ore exports to China amounting to 123 million tonne in 2009, accounting for 25% of China's total iron ore imports in the year in question.
However, the Indian government has since restricted iron ore exports by increasing export taxes and railway freight charges, as part of its efforts to support Indian domestic steel production. In the months from June to September 2012, India's iron ore exports to China amounted to 4.82 million tonne, 2.53 million tonne, 1.625 million tonne and 788,000 tonne respectively, indicating sharp MoM declines.
Source – SteelOrbis
South Africa may replace India third iron ore supplier to China