Fall in iron ore exports from Goa amid mining halt during monsoons resulted in drop in export volumes.
Indian iron ore exports have recorded decrease of 70% Q-o-Q, according to the data maintained with SteelMint. India exported 1.57 MnT Q2’ FY’18 against 5.21 MnT in Q1 FY’18. Iron ore mining in Goa came to halt since beginning of June with the onset of monsoon season. Following this iron ore export volumes from Goa also witnessed decline, in turn reducing the total export volumes from India.
Thus significant drop in export volumes were noticed from Mormugao & Redi ports in Q2 FY18. In the quarter under consideration, NMDC remained the largest exporter at 0.5 MnT followed by Rungta Mines at 0.4 MnT and SM Niryat at 0.2 MnT. China accounted for 68% share in Q2 FY18 Indian iron ore exports followed by Japan and South Korea.
Indian iron ore exports have also decreased by 19% M-o-M to 0.44 MnT in the month Sept’17 against 0.54 MnT in Aug’17. It has also decreased 49% Y-o-Y against Sept’16 last year that was 0.87 MnT then.
Rungta Mines iron ore exports doubled in September– Bagadiya Brother’s was the largest exporter in Sept’17 at 0.11 MnT compared to 0.05 MnT in Aug’17. Other exporters in Sept’17 were Kashvi Power and steel at 0.11 MnT, Rungta Mines was also at 0.11 MnT, S M Niryat at 0.06 MnT and Chamong Tee at 0.05 MT. Rungta Mines doubled its export volumes from 0.06 MnT in Aug’17 to 0.11 MnT in Sept’17. No iron ore export shipment from NMDC was recorded in Sept’17.
China was the only destination for Indian iron ore exports in Sept’17- Paradip port accounted for 0.33 MnT iron ore exports, up 120% M-o-M. Dharma Port export volumes in Sept’17 were 0.11 MnT.
Port-wise iron ore exports from India in Sept’17 – Paradip port accounted for was exported 0.33 MnT iron ore exports, up 120% M-o-M.up more than two times M-o-M as it was 0.15 MnTin Aug’17. Dharma Port export volumes in Sept’17 was 0.11 MnTwas also exported more than two times M-o-M compared to last month Aug’17 as it was 0.05 MnT then.
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