NMDC remains the largest Iron ore exporter from India during the currect fiscal (Apr-Sep’14).
NMDC’s Iron ore exports in FY15 (Apr-Sep’14) stood at around 1.2 MnT, which contributes about 40% of India’s total Iron ore exports during the same period. Last shipment (in September) of 65% Fe fines was assessed at around USD 100/MT FOB Indian East Coast.
NMDC is the largest Iron ore producer in India with an annual capacity of about 32 MnT and sells over 90% of its produced material in the domestic market, apart from exporting to Japan and Korea under long-term supply agreements.
Its Iron ore production was over 27 MnT in FY13 and 30 MnT in FY14. While, it had exported about 1.6 MnT and 2.5 MnT in FY13 and FY14 respectively.
Indian steel industry has been demanding for export ban from NMDC viewing short supply in the domestic market, which has occurred owing to mining restrictions imposed in Odisha, Jharkhand, Karnataka & Goa.
India’s total Iron ore exports have fallen sharply on the grounds of high export duty, freight charges and falling prices in the global market. Total exports of Iron ore from India stand at 2.8 MnT in FY15 (Aprl-Sep’14) against 14.5 MnT Iron ore export in FY14 and 18 MnT in FY13.
NMDC’s Q2 FY15 Iron ore export has decreased by 21% Y-o-Y. The company has exported 0.65 MnT Iron ore in Q1 FY15, which fell to 0.58 MnT in Q2 FY15.
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