Canada’s iron ore exports (pellets and iron ore concentrates) totaled 2.795 million mt in March 2017 compared to 3.183 million mt during the same month in 2016, reflecting a decline of 12.2 percent year-on-year.
Newfoundland and Labrador provinces accounted for 1.925 million mt of exports, Quebec with 869,016 mt and Ontario 30 mt. The value of exports is estimated at $260 million with an average price at $93.20/mt, 44.4 percent higher than the average export price of $64.6/mt in Q1 2016.
Iron ore concentrate exports were down 19 percent at 1.433 million mt compared to 1.769 million mt during March 2016. The value of iron ore concentrate exports during the month increased by 3.4 percent from $100 million in March last year to $103.3 million in March 2017. Exports of iron ore concentrates from Newfoundland and Labrador totaled 993,232 mt and Quebec exported 439,835 mt.
Pellet exports for the month decreased by 3.8 percent with 1.361 million mt from 1.415 million mt in March 2016. Exports from Newfoundland totaled 932,249 mt while Quebec exported 429,181 mt and Ontario 30 mt. The value of pellet exports totaled $157.2 million with an average price of $115.5/mt.
Cumulative Q1 results for iron ore exports totaled 8.949 million mt for the first three months of 2017, declining marginally by just over 1 percent when compared with Q1 2016. Q1 iron ore exports by province: Newfoundland and Labrador, 4.606 million mt (51 percent of the market); Quebec, 4.341 million mt (49 percent); Ontario, 141 mt; and Nunavut, 2 mt. Exports were valued at $813 million at an average of $91/mt.
Exports of iron ore concentrates in Q1 edged lower by 10.9 percent from 5.531 million mt in the first quarter 2016 to 4.927 million mt during the first quarter 2017. The unit price per mt increased sharply by 30.8 percent to $75/mt compared to the first quarter 2016 with a total value of $369 million.
Pellet exports increased by 14.4 percent from 3.515 million mt in the Q1 2016 to 4.022 million mt in Q1 2017. The value of pellet exports totaled $444 million with average export prices at $110.2/mt.