Indian Iron Ore Imports at 3.5 MnT in Q1 FY’19

Indian iron ore imports in first quarter FY’19 recorded at 3.48 MnT, according to the customs data maintained with SteelMint. On yearly basis, imports have increased by four folds as against 0.73 MnT in Q1 FY’18. However imports witnessed a decline of 22% Q-o-Q as against 4.49 MnT in Q4 FY’18.

Average global iron ore fines (Fe 62%) prices in Q1 FY19 stood at USD 66/MT, CFR China.
Indian iron ore imports in June’18 witnessed at 0.92 MnT, lowest since Jan’18. It depicted a fall of 42% M-o-M as against 1.59 MnT in May’18.

JSW Steel’s Iron Ore Imports down 65% M-o-M in June’18 –

JSW steel has imported 0.47 MnT in June’18 and turned out to be largest importer contributing 51% share of total Indian iron ore import. However, the imports stood down 65% on monthly basis as against 1.35 MnT in May’18. Out of the total imports in June’18, JSW imported 0.36 MnT from Australia and remaining 0.11 MnT from South Africa. The company imported major part of material at Krishnapatnam port at 0.36 MnT and 0.11 MnT at Jaigarh port.

JSW Steel has started purchasing iron ore aggressively from NMDC Karnataka post price reduction announcement made by the company on 22nd Jun’18.

In Q1 FY19, JSW Steel imported 2.48 MnT iron ore, against 3.19 MnT iron ore in Q4 FY18. Other major importers in Q1 FY19 were Goa Sponge (0.17 MnT)and Kamachi Group (0.15 MnT).

Imports from Australia down sharply M-o-M in Jun’18-

In June’18, Australia stood largest exporter at 0.36 MnT (down 68% M-o-M), followed by South Africa at 0.45 MnT (up 48% M-o-M ) and Brazil at 0.11 MnT (down 35% on monthly basis).

Country wise Indian Iron Ore Import

Quantity in MnT
Source: SteelMint Research
Provisional data

Port-wise Indian iron ore imports –
In June’18, Krishnapatnam port accounted for highest imports at 0.36 MnT , down 55% M-o-M, followed by Mundra at 0.16 MnT and Kandla at 0.12 MnT.