Sharp decline in global iron ore prices resulted in a significant fall in iron ore export volume from India in Jun’17. Indian iron ore exports have been down by 87% M-o-M in Jun’17. India has exported 0.25 MnT material in Jun’17 compared with 1.92 MnT in May’17. Compared with May’16, export figure is down by 66% against 0.74 MnT then.
Monthly average spot iron ore fines (Fe 62%) prices for Jun’17 were USD 56.9/MT CNF China against USD 61.2/MT CNF China in May’17. Low grade Indian iron ore fines continued to trade at discount of 40-41%.
Major exporter for the month MMTC has exported the cargoes from Vizag, Andhra Pradesh, another shipper was from Odisha, Rungta Mines. However iron ore exports from Odisha have increased by 34% but have seen a decline of 45% from Andhra Pradesh.
MMTC the largest exporter for Jun’17 – MMTC was the largest exporter in Jun’17 at 0.16 MnT compared to 0.28 MnT in May’17. Other exporters were S M Niryat at 0.09 MnT and Odisha based miner Rungta Mines at 8000 MT only.
China accounted for 38% share in Jun’17 Indian iron ore exports – China remains the top destination for Indian iron ore export for the month of Jun’ 17 with the share of 96550 MT (38%) followed by Japan.
Port-wise iron ore exports from India in Jun’17 – 0.16 MnT iron ore was exported from Mormugao port in Jun’17, down 45% M-o-M. However Iron ore export from Odisha, Paradip port was up by 34% from 0.07 MnT in May’17 to 0.1 MnT in Jun’17.
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