Indian iron ore exports starting FY17 (Apr-Dec’16) has registered at 14.2 MnT. Iron ore exports have shown a remarkable growth as only 2 MnT iron ore was exported during the same period in last fiscal.
In Dec’16, iron ore exports were recorded at 2.96 MnT against 2.56 MnT in Nov’16. In addition, there was increase in exports of 160% on Y-o-Y basis as only 1.14 MnT iron ore was exported during the same month last year.
Iron ore exports from Goa and Odisha saw a tremendous growth after Indian government waived off export duty on low grade iron ore (below Fe 58%) in Feb’16.
Alongside, the higher global iron ore prices which touched USD 80/MT, also attracted iron ore exporters to look for better opportunities in exports.
It is expected that Indian iron ore exports is likely to be around 17 MnT in FY17, which was 6 MnT in FY16, 4.8 MnT in FY15 and 14.5 MnT in FY14.
Goa iron ore exports at 8.7 MnT during Apr-Dec’16
Exports from Goa registered highest at 8.7 MnT during Apr-Dec’16. Goa exports remained at 1.11 MnT during the same time period in FY16. It mainly exports low grade ore to China.
Odisha iron ore exports at 3.10 MnT during Apr-Dec’16
Low grade iron ore exports from Odisha were at 3.10 MnT during Apr-Dec’16 against 0.09 MnT during same time period in FY16. Higher global iron ore prices gave better opportunities to Odisha based exporters. 
China-the largest export destination for Indian iron ore
China, turned out to be the largest export destination for iron ore. In FY17, India has exported 11.3 MnT iron ore during Apr-Dec’16.
India also exports iron ore to Japan and South Korea. Out of the total iron ore exports in FY17 (till Dec’16), exports to Japan remained at 16%, South Korea 3.7% and Malaysia 0.5%.
Party-wise iron ore exports from India in Dec’16
| Shipper | Dec’16 | Nov’16 |
| Vedanta | 1,107,630 | 922,900 |
| MMTC | 284,190 | 212,800 |
| Fomento Resources | 486,440 | 564,850 |
| Rungta Mines | 79,350 | 158,000 |
| Bagadiya Brothers | 116,600 | 56,720 |
| VM Salgaonkar | 238,900 | 69,850 |
| Chowgule And Company | 80,220 | 137,650 |
| Royal Line Resources | 109,470 | 52,800 |
| Kai International | 160,050 | 60,200 |
| Aryan Mining | 111,730 | 105,450 |
| Chamong Tee | 54,550 | – |
| Ghanashyam | 23,000 | – |
| Ujala Minerals | – | 60,000 |
| Essel Mining | – | 59,400 |
| Kalinga Export | – | – |
| Kashvi Power | 43,370 | 55,200 |
| Shark Mines | – | 54,000 |
| Glass | 12,000 | – |
| N/A | 56,400 | – |
| Grand Total | 2,963,900 | 2,569,820 |
Qty in MT
Source: SteelMint Stats, Customs
Provisional Data
Leave a Reply