Indian Iron Ore Imports Increase 16% in Q2 FY’19

According to the customs data maintained with SteelMint, Indian iron ore imports in Q2 FY’19 recorded at 4.04 MnT. On the quarterly basis, imports increased by 16% against 3.48 MnT in Q1 FY’19. In H1 FY’19 (Apr-Sept’18), the total imports recorded at 7.52 MnT, up by almost three folds as compared to imports for the same duration previous year FY’18 (Apr-Sept’17) at 2.57 MnT. Amid high domestic iron ore prices, major Indian mills preferred importing ore from Brazil, Australia etc.

However, on monthly basis, imports witnessed a decline of 20% to 1.11 MnT in Sept’18 as against 1.38 MnT in Aug’18.

Average global iron ore fines prices remained range bound – Quarterly average global iron ore fines (Fe 62%) prices stood at USD 67/MT, CFR China in Q2 FY19 as against USD 66/MT, CFR China.

JSW Steel remained the largest importer in H1 FY19 at 5.87 MnT followed by Essar Steel & Kamachi Group. JSW steel increased iron ore imports by 37% to 3.39 MnT in Q2 FY’19 as against 2.48 MnT in Q1 FY’19.
Australia accounted for largest share of 66% imports to India followed by Brazil.

JSW Steel iron ore import down by 47% in Sept’18–

JSW Steel imported 0.74 MnT iron ore, down 47% compared to last month imports at 1.38 MnT. JSW Steel imported 0.57 MnT iron ore from Australia and 0.17 MnT from Brazil. After a reduction in base price in Karnataka e-auctions, the steelmaker focused on domestic iron ore sourcing.
Mono Steel turned out to be the second highest iron ore importer with 0.17 MnT in Sept’18 from South Africa. Follow by Jindal SAW 0.09 MnT, Sree Rengaraaj Ispat and Splendid Metal Products at 0.05 MnT each.

Imports from Australia decreased sharply by 53% M-o-M

In Sept’18, Australia stood the largest exporter of iron ore to India at 0.57 MnT (down by 53% M-o-M), contributing 52% of total imports. South Africa contributed 29% imports at 0.32 MnT (no exports recorded last month). Followed by Brazil at 0.17MnT (down by 5%) and Iran 0.05MnT.

Country wise Indian Iron Ore Import

Quantity in MnT
Source: SteelMint Research
Provisional data

 Indian Iron ore imports at Krishnapatnam port decrease by 57% in Sept’18 –

In Sept’18, Krishnapatnam port witnessed imports at 0.38 MnT, contributing 34% of total imports, down by 57% M-o-M as against 0.88 MnT in last month. Jaigarh port stood the second highest importer at 0.36MnT (down by 29%). Follow by Kandla port at 0.17MnT and Mundra 0.09MnT both the ports reported no imports  last month.