Exports of iron ore by India, in the form of fines and lumps, spiralled to a nearly 3-year high of 4.86 million tonnes (mnt) in January 2024, the highest level witnessed since March 2021 when export volumes had touched 5.87 mnt, as per data available with BigMint. The top importer was China, accounting for a lion’s share of shipments from India, followed by Malaysia, Qatar etc. Moreover, exports of iron ore pellets during January were recorded at 1.77 mnt, which climbed to a 3.5-year high, as per data, on pre-Chinese New Year (CNY) restocking amid fund infusion signals from the Chinese government. India’s exports of iron ore in CY’23 were recorded at over 33 mnt, while pellet exports stood at 10.8 mnt. Above 90% of total export shipments were to China.
