Indian iron ore export is gearing up. Iron ore exports from India was registered at 2.22 MnT in Apr’16, highest monthly exports since FY14. Exports rose by 30% M-o-M as compared to Mar’16.
The key exporter of iron ore from India was Goa. Goan iron ore exports are again getting on the sharp upward curve. As per customs data maintained by SteelMint, iron ore exports from Goa (Mormugao and Panaji Ports) was 1.7 MnT in the first month of FY17. On the other hand, NMDC exported 0.28 MnT ore in Apr’16.
The largest destination of iron ore exports from India was China. Out of the total share of iron ore exported last month, exports to China were at 83%, South Africa was at 6.4% and Japan at 0.1%. The ore exported to China was totaled at 1.84 MnT which was majorly low-grade ore exported from Goa. Exports to Japan and South Korea was registered at 0.23 MnT and 0.14 MnT which was exported by NMDC under the long-term agreement.
Indian iron ore exporters enjoy recent price gain in global iron ore prices by USD 11/MT in Apr’16. Alongside, measures like reduction in export duty of NMDC & low-grade ore and reduction in freight charges strengthened exports in Apr’16. Under these favorable market conditions, exports from India are likely to increase in the coming term especially from Goa.
Meanwhile, Indian iron ore export offers for Fe 57% fines are hovering at USD 41/MT, FOB East Coast and that of USD 47/MT CFR, China. Indian iron ore export offers are up by USD 8/MT, FoB M-o-M.
Party-wise iron ore exports from India in Apr’16
|
Shipper |
Quantity (MT) |
| Vedanta | 954,000 |
| MMTC | 288,150 |
| Fomento Resources | 269,300 |
| Samruddha | 164,300 |
| VM Salgaokar | 155,300 |
| Chowgule And Company | 117,500 |
| Sainath,GM Iron,Bagadiya Brothers | 56,000 |
| Royal line Resources | 55,100 |
| G N Agarwal | 55,000 |
| Bagadiya Brothers | 54,000 |
| Kalinga Export | 51,500 |
| Grand Total | 2,220,150 |
Qty in MT
Provisional data
Source: SteelMint Stats, Customs
Link to the vessel details of Indian iron ore export in Apr’16
Vedanta-Tops the list among Indian iron ore exporters
Vedanta Ltd maintains its first position among iron ore exports from Goa. In Apr’16, the exporter, likely to export around 0.9 MnT iron ore to China. The exporter contributed around 50% of the export share followed by MMTC, Fomento Resources, Royal line Resources, Chowgule & Company etc.
Apr’16 observed two pellet export shipments: In Apr’16, pellet exports was recorded at 110,500 MT. Apr’16 observed two pellet export shipments of BRPL and JSPL. BRPL exported 54,000 MTpellets to China at USD 63/MT FoB, Paradip. On the other hand, JSPL exported 56,500 MT pellets to its own steel plant in Oman namely Jindal Shadeed Iron & Steel LLC. Meanwhile, pellet premium was assessed at USD 21/DMT, CFR China in week 18 which was highest since Oct’15. The increase in spot pellet premium for Fe 65% BF grade pellets will be dealt with the rise in interest of Indian pellet manufacturers to export.
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