India: Iron Ore Movement Moved Down 20% M-o-M in Feb’17

As per SteelMint’s analysis, iron ore movement across major producing states of the country was recorded at 9.20 MnT in Feb’17. The figure has been compiled on the basis of movements made via railways, trucks, Karnataka and Goa e-auction data and import data as per customs. The figure indicated does not include the captive iron ore movement of SAIL & Tata Steel and movement for exports.

State-wise iron ore movement analysis:

Iron ore dispatches from Odisha down 10% M-o-M in Feb’17 – On monthly premises, Odisha iron ore dispatches fell 10% M-o-M from 5.2 MnT in Jan’17 to 4.7 MnT in Feb’17. Among Odisha’s merchant iron ore miners – Rungta Mines dispatched highest quantity of ore followed by Serajuddin Mines and OMC. Iron ore dispatch by Odisha based merchant mines fell further in Feb’17 and was recorded at 4.5 MnT against 5 MnT in Jan’17.

Chhattisgarh iron ore movement at 1.7 MnT – Iron ore movement from Chhattisgarh fell from 2.1 MnT in Jan’17 to 1.7 MnT in Feb’17. NMDC’s iron ore supply from Bailadila mines fell by 25% M-o-M in Feb’17. Movement for exports reduced to half in Feb’17 and procurement from C.G. based units plunged 47% M-o-M. In Feb’17, NMDC loaded 356 iron ore rakes from its Chhattisgarh mines.

Karnataka iron ore e-auction sales at 2.1 MnT in Feb’17 – Iron ore sales via Karnataka e-auctions stood at 2.14 MnT in Feb’17 down 24% M-o-M. NMDC sold 1 MnT iron ore via e-auctions. JSW Steel remained the largest buyer at 1.63 MnT followed by RBSSN.

Indian iron ore imports decreased in Feb’17 – India imported 0.22 MnT iron ore in Feb’17 compared to 0.73 MnT in previous month. JSW Steel was the largest importer in Feb’17 at 0.16 MnT followed by KIOCL. Pellet imports to India remained nil in Feb’17.

Iron ore exports from India up, pellet exports down in Feb’17 – Indian iron ore exports moved up and stood at 3.27 MnT in Feb’17, up 18% M-o-M. Vedanta was the largest exporter at 0.71 MnT followed by Fomento Resources and Rungta Mines. Indian pellet exports which were recorded at 1.17 MnT in Jan’17 decreased to 0.78 MnT in Feb’17. Rashmi Metaliks remained the largest exporter followed by BRPL and Essar Steel.