Iron ore price, page-1341

More on IO imports data from yesterday:

- March average price US$87
- April average price US$70
- April Import 82.23MT down 13.33MT from March or 2% from last year.
- January to April imports total 353.09MT up 8.6% from last year, or up 30.36MT
- Imports from the Big 4 remains flat from Jan to April (-0.8%)

So Big 4 IO imports to China for the first 4 months are flat, the extra 30MT are from higher cost producers.

In April, Brazil shipped 13.03MT to China, down 2.27MT from March
In April, Australia shipped around 10% more IO than in March (I can't find Total Data expect Port Headland were up from 31.5MT to 34.86MT)

It's estimate the Big 4 total increase the shipment to China by 3MT. So imports from other IO producers other than the Big 4 shipped 13.3 + 3 = 16MT less in April from March.

This month most likely IO price will be average around US$60 which means even more higher cost IOs drops out of the market.

In the end FMG will have it's Market Share back and enjoy a more reasonable discount rate again.

DYOR.

Frank.