Indian Iron Ore Imports at 1.38 MnT in August

Indian iron ore imports in Aug’18 recorded at 1.38 MnT, according to the customs data maintained with SteelMint. On monthly basis, imports witnessed decline of 11% as against 1.55 MnT in July’18. On yearly basis, imports depicted more than four folds increase as compared to Aug’17 imports at 0.34 MnT.

Average global iron ore fines prices increased 5% M-o-M

Monthly average global iron ore fines (Fe 62%) prices in Aug’18 recorded at USD 68/MT, CFR China, up by 5% on monthly basis as against July’18 price at USD 65/MT, CFR China.

For the duration FY’19 (Apr-Aug’18), the total imports recorded at 6.41 MnT, up by almost three folds as compared to imports for same duration previous year FY’18 (Apr-Aug’17) at 2.18 MnT.

JSW Steel the sole iron ore importer in Aug’18-

JSW Steel stood the only importer for the month of Aug’18 at 1.38 MnT, up 9% compared to last month imports at 1.27 MnT. JSW Steel imported 1.2 MnT iron ore from Australia and 0.18 MnT from Brazil.

Essar steel and Kamachi Group depicted nil imports for the month against being 0.17 MnT and 0.11 MnT a month before. No shipments of Gujarat based mills for lump was seen however mills have booked South African lump for which deliveries are expected in September and October.

Imports from Australia increased 10% M-o-M

In Aug’18, Australia stood largest exporter of iron ore to India at 1.21 MnT (up by 11% M-o-M), contributing 87% of total imports. Brazil contributed the remaining 13% imports at 0.18 MnT(stable on monthly basis).

In FY’19 (Apr-Aug’18), Australian exports to India marked highest at 4.43 MnT, significantly up against same time period last year at 0.40 MnT (Apr-Aug’17).

Country wise Indian Iron Ore Import

Quantity in MnT
Source: SteelMint Research
Provisional data

Krishnapatnam port accounted 64% of Indian Iron ore imports in Aug’18 –

In July’18, Krishnapatnam port witnessed imports at 0.88 MnT, contributing 64% of total imports for Aug’18, down 13% M-o-M as against 1.02 MnT in last month. Jaigarh port contributed the remaining 36% imports at 0.50 MnT (down 6% M-o-M).