In the first eleven months of FY’18, Indian Iron ore imports were up 33% to 7.14 MnT against 5.35 MnT in the same period last year. Indian iron ore imports shooted up in Jan’18 after five operating iron ore mines in Odisha stopped operations following SC order on illegal mining. However after receiving SC consent in Feb’18, few major miners have resumed sales.
Indian iron ore imports in Feb’18 recorded at 1.07 MnT, down 45% as against 1.95 MnT in Jan’18, according to the customs data maintained by SteelMint. On yearly basis, iron ore imports in Feb’18 increased sharply to almost fivefold as against 0.22 MnT in Feb’17.
JSW Steel’s iron ore imports declined in Feb’18 –
India’s major steel maker– JSW imported 0.58 MnT iron ore in Feb’18 and turned out to be the largest importer. JSW imports in Feb’18 recorded decline of 61% M-o-M as against 1.49 MnT in Jan’18.
Out of 0.58 MnT iron ore imported by JSW Steel in Feb’18, 0.19 MnT iron ore was imported at Jaigarh port and 0.38 MnT iron ore imported at Krishnapatnam Port.
Varsana Ispat stood the second largest importer at 0.15 MnT followed by Essar Steel at 0.11 MnT. Kamachi Steels and Pulkit Steels jointly imported 0.09 MnT iron ore. Other importers included Jindal Saw and Kamachi Group at 0.09 MnT and 0.05 MnT respectively.
Australia turned out to be the largest source for iron ore imports in Feb’18 –
Australia registered 54% share of India’s iron ore import in Feb’18 with an import volume of 0.58 MnT, down 29% M-o-M as against 0.82 MnT in Jan’18.The imports were followed by South Africa at 0.39 MnT (down 15% M-o-M) and Brazil at 0.11 MnT (down 84% M-o-M).
Krishnapatnam Port accounted for almost half of Indian ore imports in Feb’18 –
Krishnapatnam port accounted for 49% share in Feb’18 iron ore imports to India at 0.53 MnT, followed by Jaigarh port at 0.19 MnT (down 77% M-o-M), Kandla at 0.15 MnT(down 35% M-o-M), Paradip at 0.11 MnT and Mundra at 0.09 MnT.
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