Canadian Raw Material Exports Hit Record-High in CY'18
Trade statistics released by Canada custom shows that the iron ore exports by the country recorded at 47.68 MnT in CY'18. The exports depicted rise of 16% as compared to CY'17 exports at 41.12 MnT.
Canadian iron ore exports to China recorded at 8.98 MnT for CY18, up 24% as against 7.1 MnT in CY17. France stood second largest importer at 6.11 MnT followed by Japan at 5.93 MnT.
However, Iron Ore Company of Canada (IOC) production dropped 20% in CY18 amidst strike in second quarter of the year. Owing to local union workforce voted to strike, operations were disrupted during second quarter CY'18. They had reached to a new labor agreement and achieved a normal rate of production towards the end of June 2018.
Canada coal exports to India up 32% in CY18
Canadian coal exports have attained a 4-year high total, by posting a 4% Y-o-Y growth in CY18. According to the data provided by Canadian customs, the country has exported 34.21 MnT coal in CY18 against 32.87 MnT in CY17.
Canadian exports which chiefly consist of coking coal, had witnessed increased demand due in part to continued steel production capacity growth in India & South East Asia, and supply concerns mainly in Australia.
Notably, Canadian coal export to India rose 32% Y-o-Y to 4.38 MnT in CY18. As per records, this was the largest annual volume recorded since CY13 (the period from which SteelMint has maintained custom data for Canada).
Canadian Scrap Exports Hit 6 Year High in CY18
Canada observed the third successive rise in yearly ferrous scrap exports in CY18 since CY14. The country exported 4.94 MnT ferrous scrap in CY18, up 17% Y-o-Y as against 4.24 MnT in CY'17. According to data maintained with SteelMint, Canadian scrap exports hit last 6 year high on a higher generation and rising imports from major importers like United States and Turkey. Average global scrap prices remained to the lower side in the second half that of in the first in CY18.
The largest importer, United States imported 3.42 MnT ferrous scrap in CY18, up 13% Y-o-Y occupying highest 69% share in total scrap exports followed by Turkey (0.70 MnT, up 19%), Taiwan (0.14 MnT, up 75%) and Mexico (0.12 MnT, down 0.40%) on yearly premises. Steel mills in Asian countries like India (0.10 MnT), Bangladesh (0.09 MnT) and Vietnam (0.06 MnT) showed increased appetites for good quality Canadian scrap in CY18.
On a monthly basis, Dec'18 exports which were booked in Nov'18 were up by 12% M-o-M to 383,830 MT ferrous scrap against 343,734 MT recorded in Nov'18. Egypt procured Canadian scrap (50,120 MT) after almost a gap of 1 year in Dec'18.
source: SteelMint
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