A rise in global iron ore prices supported the Indian iron ore export volume in Jul’17. Indian iron ore exports have been up 133% M-o-M in Jul’17. India exported 0.59 MnT material in Jul’17 compared to 0.25 MnT in Jun’17. Similarly exports were up 6% Y-o-Y compared to Jul’16 which were at 0.55 MnT then.
Monthly average spot iron ore fines (Fe 62%) prices for Jul’17 were USD 67/MT CNF China against USD 57/MT CNF China in Jun’17. Low grade Indian iron ore fines are traded at the discount of 38-40% currently.
Major exporter for the month Rungta Mines has exported the cargoes from Dhamra; Paradip ports Odisha, other shipper were from Andhra Pradesh and Goa. Iron ore exports from Odisha have increased nearly 3 times and an increase of 61% from Andhra Pradesh. Mormugao, Goa port also exported a quantity of 0.06 MnT iron ore.
Rungta Mines largest exporter for Jul’17 – Rungta Mines was the largest exporter in Jul’17 at 0.24 MnT compared to 0.01 MnT in Jun’17. Other exporters were MMTC at 0.22 MnT and Goa based Vedanta at 0.06 MT. Other exporters were SM Niryat and Star Minerals with the export quantity of 0.04 MnT each.
China accounted for 63% share in Jul’17 Indian iron ore exports – China remains the top destination for Indian iron ore export for the month of Jul’ 17 with the share of 0.37 MnT (63%) followed by Japan and South Korea.
Port-wise iron ore exports from India in Jun’17 – 0.25 MnT iron ore was exported from Vizag port in Jul’17, up 61% M-o-M. Iron ore export from Odisha, Paradip port was also up by 19% from 0.10 MnT in Jun’17 to 0.11 MnT in Jul’17.
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