India Lowers Iron Ore Exports to China, China Seeks Import Channels

According to December 26th, India reported that data released by the Indian Port Association showed that the export volume of iron ore in major ports controlled by the Central Government of India in November was nearly 4.8 million tons, down 35.4% year-on-year and down 19.6% from the previous period. In Orissa State, the impact of iron ore transportation was limited, and the export of iron ore from the port of Baladib and the neighbouring state of Andhra Pradesh, Visapad, both dropped significantly year-on-year. The export volume of iron ore from the Baladib port fell 88.4% year-on-year to 1.486 million tons, down 74.1% from the previous month. The export volume of iron ore from Visapad Nangang fell 35.7% year-on-year to 93.3 million tons, down 47.1% from the previous period. Data show that in April-November this year, India's iron ore exports fell by 15.9% year-on-year to 42.356 million tons. The iron ore exports controlled by the Central Government of India account for 80%-90% of India's total exports, of which exports to China account for about 70%.

The Chinese ambassador to India, Zhang Yan, said in an interview: “What is the exact amount of data and it is clear that we only know that India’s iron ore exports to China in the first 11 months of this year have fallen sharply compared to the same period last year.” He said: “China The market is always open to India. We want to buy iron ore from anywhere, and if we can't buy iron ore from India, we will increase our purchasing power from Australia, Brazil and Africa."

Ambassador Zhang Yan made the above remarks when speaking at the China-India Trade Relations Forum organized by a local chamber of commerce in Utkal, Orissa, on Saturday. He said: “The restrictions imposed by the central government of India and local governments on mining and exporting are the main reasons for the decline in iron ore exports to China.” He added: “We hope that the Indian government will introduce a constructive policy to promote bilateral trade and investment. Further development."

According to statistics released by the General Administration of Customs of China, the bilateral trade volume between China and India in 2010 was as high as 61.7 billion U.S. dollars, almost 20 times that of 10 years ago. From January to November this year, the bilateral trade volume between China and India has reached 60.3 billion U.S. dollars, and it is expected to reach 70 billion U.S. dollars by the end of December. By 2015, bilateral trade volume is expected to exceed 100 billion U.S. dollars.