Indian Iron Ore Export Down by 31% in Feb’16

Iron ore export from India was recorded at 918,300 MT in Feb’16 down by 31% M-o-M. In Jan’16 iron ore export from India stood at 1,323,460 MT.

Out of the total share of iron ore exported last month the share to the countries were as follows-China (694,300 MT), South Korea (154,000 MT) and Japan (70,000 MT).

NMDC iron ore export have declined on a monthly comparison basis. The miner exported 224,000 MT iron ore in Feb’16 against 294,460 MT in Jan’16. NMDC’s export offers for Q4 FY16 are as follows- Baila lump – USD 55.28/MT and Baila fines – USD 48.45/MT FoB India.

Iron ore export from Goa also fell by about 30% M-o-M and stood at 529,300 MT in Feb’16. The main reason behind fall in exports from Goa was the Chinese Lunar New Year holidays spanning across a week owing to which Chinese market remained close. This resulted in limited trading activities.

Party-wise iron ore exports from India in Feb’16

Qty in MT
Provisional data
Source: SteelMint Stats, Customs

Link to the vessel details of Indian iron ore export in Feb’16

Feb’16 observed single pellet export shipment- The month of Feb’16 observed single pellet export shipment of KIOCL. It exported 51,000 MT pellets to China on 11 Feb’16. In the month of Jan’16, pellet exports from India were recorded at 119,500 MT.

Indian iron ore export reach 4.34 MnT- Iron ore export from India have summed up to 4.34 MnT in this fiscal, by Feb’16. Low grade iron ore export from India will pick up in the coming fiscal as Indian govt. has scrapped the export duty on low grade (below Fe 58%) iron ore in the recently presented budget.