Indian iron ore imports were registered at 5.1 MnT in FY17 during Apr-Jan’17. Iron ore imports have registered an increase 16% Y-o-Y as 4.4 MnT iron ore was imported during the same period last year.
JSW Steel turned out to be the largest iron ore importer. However, higher global iron ore prices which touched the level of USD 80/MT have kept iron ore importers away.
In Jan’17, imports were registered at 728,460 MT against 399,170 MT in Dec’16. However, on Y-o-Y basis, there is 7.5% growth in iron ore imports as it was recorded at 677,100 MT in Jan’16.
It is observed that monthly average iron ore fines (Fe 62%) index, which stood at USD 79.4/MT in Dec’16, marginally moved up by USD /MT and stood at USD 79.6/MT in Jan’17.
JSW Steel the highest importer, 3.0 MnT iron ore imported in FY17 (till Jan’17)
JSW Steel turned out to be the highest importer of iron ore. The steelmaker imported 3 MnT iron ore in FY17 (Apr-Jan’17). However, imports remained at 1.2 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 observed in Jan’17 – Southern India based importers – Pulkit Steels and Akshara Industries jointly imported a vessel of 54,300 MT South African iron ore lump at Krishnapatnam port on 06 Jan’17.
West India based steelmakers procured two shipments from South Africa-
Few of Gujarat based steel makers imported a vessel of 89,200 MT South African lump at Kandla port. Another iron ore import vessel named ‘Golden Feng’ of Jindal SAW carrying 157,500 MT iron ore (majorly fines) from South Africa arrived at Mundra port on 15 Jan’17.
Shraddha Ispat imported a vessel of 95,230 MT South African lump via vessel named ‘ Wel Success’ at Mormugao port towards the beginning of this month.
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