Indian Iron Ore Export See Sharp Rise in Oct’16

Indian iron ore exports have shown a tremendous growth of around 86% in the month of Oct’16. This growth in exports is majorly due to resumption of Goan iron ore exports which was very nominal since past 2 months due to monsoon season.

As per data maintained by SteelMint, Indian iron ore exports was registered at 1.62 MnT in Oct’16, against 0.87 MnT in Sept’16.In addition, there is also a remarkable increase in iron ore exports on Y-o-Y basis as only 0.25 MnT iron ore was exported in Oct’15.

In the first seven months of FY17, Indian iron ore exports increased substantially and were registered at 8.7 MnT, as the country exported only 0.29 MnT iron ore in the same consecutive months last year.

Goa iron ore exports gear up in Oct’16

Exports from Goa was registered at 1.03 MnT in the month of Oct’16 against 0.11 MnT in Sept’16. Vedanta, the largest iron ore exporter of Goan iron ore, whose export remained at 0.11 MnT in the month of the Sept’16 has exported 0.66 MnT iron ore in Oct’16.

Odisha iron ore exports account 23% of total iron ore exports in Oct’16

Low-grade iron ore exports from Odisha was recorded at 0.37 MnT which contributed around 23% of total iron ore exports. Rungta Mines remained largest iron ore exporter from Odisha and exported 0.22 MnT iron ore in Oct’16.

It is to be noted that due to the continuous line up of pellet as well as iron ore export shipments, Paradip Port is facing port congestion and hence Indian pellet makers and iron ore exporters are facing difficulty in lining up export vessels. 

India majorly exports iron ore to China, Japan and South Korea. Out of the total iron ore exports in the month of Oct’16, around 81% of total exports is directed towards China, and around 12% is directed towards Japan.

Starting FY17 (till Oct’16), total 7 MnT has been exported to China, 1.4 MnT to Japan and 0.46 MnT iron ore to South Korea.

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

Qty in MT
Source: SteelMint Stats, Customs
Provisional Data