FY15 marked an all time high of 15 MnT Iron ore imports to India. The huge import of Iron ore this fiscal by an Iron ore rich India is attributed to the bans on various mines by the Supreme Court and declining global prices of Iron ore.
The fact that import of the material (including Iron Pellets & Fines) was a mere 0.4 MnT in FY14, 3.1 MnT in FY13 and 1 MnT in FY12, is the reason the exceptionally high 15 MnT FY15 import has grabbed all attention.
JSW Steel turned out to be the largest importer, who contributed around 60% of total imports to India followed by Tata steel.
Import of Iron ore was largely done from South Africa (5.9 MnT), Brazil (3.7 MnT), Australia (1.9 MnT), Oman (1.4 MnT), Canada (0.7 MnT), Malaysia (0.3 MnT), Mauritania (0.3 MnT).
Krishnapatnam port remains the busiest port, which handled around 8.5 MnT imported Iron ore, followed by Mumbai (1.3 MnT), Paradip (1.1 MnT), Jaigarh (1 MnT), Kandla (0.9 MnT), Hazira (0.7 MnT) and Haldia (0.5 MnT).
India turns out net importer
India turned a net importer of Iron ore in FY15, as import exceeded exports. While imports crossed 15 MnT, exports were record at just over 4.5 MnT during the same period. Mining ban in mineral rich States like Odisha and Jharkhand forced the largest buyer of raw material, JSW, to import the principal Steel making commodity, followed by other Steel producers.
India yearly Iron Ore Import
India Iron Ore Import in FY15
| Receiver | Iron ore | Pellet | Total |
| JSW Steel | 8,346,100 | 55,000 | 8,401,100 |
| Tata Steel | 3,057,321 | – | 3,057,321 |
| Amba River Coke (JSW Steel) | 790,000 | – | 790,000 |
| Tata International | 309,982 | – | 309,982 |
| Essar Steel | 230,500 | – | 230,500 |
| Phulchand Export | 229,000 | 173,280 | 402,280 |
| Jindl Saw | 221,000 | – | 221,000 |
| Kamachi Group | 169,600 | – | 169,600 |
| Sunflag Irons, Lloyds Steel, Pushpit Steels, Opg | 165,000 | – | 165,000 |
| Swiss singapore | 150,510 | – | 150,510 |
| Welspun India / Gallant Metal/ Mono Steel | 148,500 | – | 148,500 |
| Super Smelters | 115,900 | – | 115,900 |
| Visa Resources | 76,815 | – | 76,815 |
| SIMEC | – | 79,800 | 79,800 |
| SM Niryat | 60,400 | – | 60,400 |
| Welspun | 55,000 | – | 55,000 |
| JSPL | – | 53,100 | 53,100 |
| Jai Balaji & Others | 52,000 | – | 52,000 |
| Maithan | 48,100 | – | 48,100 |
| Electrosteel | 36,000 | – | 36,000 |
| Bangal Energy | 27,500 | – | 27,500 |
| Prakash Industry | 26,000 | – | 26,000 |
| Electrosteel/Shyam Group/Sova Ispat | 23,100 | – | 23,100 |
| N/A | 735,059 | 107,448 | 842,507 |
| Total | 15,073,387 | 468,628 | 15,542,015 |
Qty in MT
Source: SteelMint Stats, Customs
Provisional Data
Ports Considered Paradip, Haldia, Krishnapatnam, Vizag, Dhamra, Gangavaram, Karaikal, Mangalore, Panaji, Mormugao, Redi, Mundra, Kakinada, Kandla, Jaigarh, Tuticorine, Chennai, Mumbai, Hazira, Revdanda
Iron ore import in FY16 may fall down with the increase of raw material availability in domestic market. However, bigger buyers like JSW Steel may look for more import shipments in coming month if mining ban is not removed in states like Odisha and Jharkhand.
Other importers may reduce their import shipments with the availability of resources, but the falling global Iron ore prices and strengthening Indian rupee may attract the buyer to international market.
Odisha miners are hopeful of mining resumption by 29 April’as the Odisha High Court ordered state government to allow operations of 18 Mines (Iron ore + Manganese), comes under second deemed renewal as per MMDR act. This will help State to increase its capacity to 32 MnT. Next hearing for the petition will be held on 29 Apr’15.
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