China ore imports from India continue decline in Nov.

China's iron ore imports from India, the world's third-largest exporter of the key steelmaking ingredient, posted a year-on-year fall in November for a third month in row, the official customs data showed on Tuesday.

Still, China increased imports of coking coal, another key raw material, to 4.31 million tonnes in November, up 50.6% from a year ago.


Indian ore shipments to China stood at 5.34 million tonnes in November, down 34.8% from a year earlier, despite rebounding quickly from 2.91 million tonnes in October.

Total imports from India fell 6.94% year-on-year to 89.4 million tonnes for the first eleven months of this year, data showed.

India, one of the top three iron ore suppliers to China, has tightened shipments after the southern state of Karnataka decided to keep a ban on exports in November.

China imported 23.74 million tonnes of iron ore from Australia in November, up 23% from the same period of last year, taking the total 2.5% year-on-year higher to 241 million tonnes for January to November.

Australia remained the biggest iron ore exporter to China, taking a 41% share of the total of 57.38 million tonnes in November.

Ore sourced from Brazil rose 2.13% to 14.35 million tonnes in November from a year ago. The year-to-date shipments amounted to 117 million tonnes, 9% lower from the corresponding period of last year.

With India curbing supplies, Iran boosted its presence by increasing exports to the country by 180% on year to 1.42 million tonnes in November, with total exports surging 130% year-on-year to 12.89 million tonnes for January-November, data showed.

Coking coal imports from Mongolia reached 1.66 million tonnes in November, soaring by 450% from a year ago, and taking the year-to-date figure to 12.8 million tonnes, 255% higher on year.

And another leading exporter Australia reduced its exports to China by 42 % on year to 1.12 million tonnes in November, customs data showed. Total imports from Australia reached 15.86 million tonnes for January-November, 23% lower on year.

Source : moneycontrol.com