Indian iron ore imports were registered at 4.4 MnT in FY17 during Apr-Dec’16. Iron ore imports have registered an increase of 19% Y-o-Y as 3.7 MnT iron ore was imported during the same time period last year.
JSW Steel turned out to be the largest iron ore importer of iron ore. However, higher global iron ore prices which touched the level of USD 80/MT have kept iron ore importers away.
In Dec’16, imports were registered at 399,170 MT against 559,200 MT in Nov’16. However, on Y-o-Y basis, there is 35% growth in iron ore imports as it was recorded at 294,600 MT in Dec’15.
It is observed that monthly average iron ore fines (Fe 62%) index, which stood at USD 72.5/MT in Nov’16, moved up sharply by USD 6.9/MT and stood at USD 79.4/MT in Dec’16.
JSW Steel the highest importer, 2.7 MnT iron ore imported in FY17 (till Dec’16)
JSW Steel turned out to be the highest importer of iron ore. The steelmaker imported 2.7 MnT iron ore in FY17 (Apr-Dec’16). However, imports remained at 0.90 MnT during the same time period in FY16. It is to be noted that JSW Steel has long term contract with Brazil and South Africa miners to procure iron ore.
Single iron ore import vessel arrived at Krishnapatnam port in Dec’16: Kamachi group imported a vessel carrying 60,500 MT South African lump at Krishnapatnam port in 1st week of Dec’16.
West India based steelmakers procured two shipments from South Africa: Import vessel carrying 81,220 MT iron ore lump from South Africa was jointly imported by Electrotherm India, Mono Steel, Varrsana Ispat and Welspun Steel.
Goa Sponge & Power imported a vessel carrying 92,000 MT South African lump at Mormugao Port in Dec’16.
Brazil- the largest import destination for India
India imported 2.4 MnT iron ore from Brazil which contributes around 55% of the total imports. On the other side, imports from South Africa were around 40% and Iran by 3%.
All the imported iron ore shipments of Dec’16 were from South Africa & Brazil. Out of the total quantity imported in Dec’16, 165,450 (41%) iron ore was from Brazil and 233,720 MT (58%) from South Africa.
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