Canadian Raw Material Exports Fell in Jan'19
Trade statistics released by Canada custom shows that the iron ore exports by the country recorded at 3.19 MnT in Jan'19. The exports dropped 7 month low in Jan'19, as it was last seen in Jun'18 at 2 MnT. The exports depicted fall of 35% as compared to Dec'18 exports at 4.9 MnT.
On yearly premises, exports increased 28% compared to 2.49 MnT in Jan'18. Perhaps China continue to prefer low-grade iron ore resulted dropped in export from Canada.
China continued to be largest importer of Canadian iron ore at 0.52 MnT for Jan'19, down 66% as against 1.53 MnT in Dec'18. Netherland stood second largest importer at 0.43 MnT (up more than two folds) followed by France at 0.38 MnT (down 17%).
Canadian ferrous scrap exports dropped 15% M-o-M in Jan'19
According to data released by customs department, Canada exported 328,207 MT ferrous scrap in Jan'19 against 383,830 MT scrap exports recorded in Dec'18. Canadian crude steel output remained flat at 1.15 MnT in Jan'19 on monthly premises which could have supported domestic scrap consumption, while increased domestic scrap demand in US amid changing trade dynamics might have resulted in a drop in scrap imports from Canada in Jan'19.
On yearly premises, scrap exports declined marginally by 6% Y-o-Y that of 347,607 MT ferrous scrap in Jan'18.
United States remained the largest importer of Canadian ferrous scrap occupying highest 75% share in Jan'19. US imported 246,976 MT ferrous scrap, down 16% M-o-M followed by other major importers like Egypt (52,500 MT, up 5%), India (9,471 MT, up 10%) and Taiwan (5,680 MT, down 28%).
Canadian coal exports down 25% M-o-M
Canadian coal exports had fell 25% M-o-M to 2.58 MnT in Jan'19, on the back of lower coal purchasing from its major customers-South Korea, Japan and China. But, exports were 18% higher on the year from 2.19 MnT in Jan'19.
High prices have driven a renewed interest in Canada's coking coal projects, which are expected to be back online, and contribute to the country's export volume.
source: SteelMint
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