Russia has reduced the export of iron ore

Russian trade statistics show that iron ore exports from the country have declined significantly since the beginning of this year compared to the previous year.

Exports of iron ore in April this year decreased by 47.7% compared with exports during the same month a year earlier and amounted to 1.388 million tons. The median export price fell 18.4% to $ 43.3 per tonne, compared with the median export price of $ 53.10 per tonne in April last year. In addition, the total export value fell sharply by 57.4% to $ 60,085,000 from $ 140,932,000.

Finland was the largest importer of iron ore from Russia during the month. Imports of Russian iron ore to the country reached 388,322 tons, which is almost 28% of total exports. Exports from Russia averaged $ 53.9 per ton. Other key importers of iron ore from Russia during the month were China (353,201 tons), Turkey (157,845 tons) and Slovakia (146,885 tons).

Exports of sintered iron ore in April 2016 amounted to 723.123 tons, down 33.3% compared to the previous year. Finland became a key importer of agglomerated iron ore from Russia during the month with 388,322 tonnes. Other main destinations for sintered iron ore from Russia were Turkey (157,845 tons), Slovakia (62,270 tons) and the UK (57,252 tons).

Exports of Russian iron ore in January-April this year amounted to 5.492 million tons, which is almost 35% lower than exports in the same period a year earlier. The median export price fell more than 28% to $ 39.20 per tonne, compared with the median export price of $ 55.00 per tonne in the initial four months of last year. In addition, the total export value fell sharply by 53.7% year on year from $ 464,710,000 to $ 215,370,000.

China was the largest importer of iron ore from Russia for four months. Chinese imports from the country reached 1.587 million tons, which is almost 30% of total Russian exports. Imports across China averaged $ 39.20 per ton. The value of Chinese imports was $ 62,136,000. Other key importers of Russian iron ore in the period January-April 2016 were Ukraine (748,014 tons), Slovakia (716,560 tons) and Turkey (586,975 tons).

Exports of sintered iron ore in the period January-April 2016 amounted to 2.161 million tons, which is significantly lower by almost 40% compared to the previous year. Turkey is a key importer of agglomerated iron ore from Russia during this period. Exports to Turkey amounted to 586,975 tons, followed by Finland with 580,834 tons.