Iron ore export from India stood at 0.39 MnT in August against 0.22 MnT in the month of July, 2014. Exports have moved up not because of improved realizations but to avoid cancellation of plots at Paradip port, which were allotted to Indian exporters at a very high price.
“There is absolutely no parity in exports, but to keep our plots safe, we have to export as per port conditions. We are paying huge rentals for plot allotted to us through auction process,” said an Iron ore exporter based in eastern region.
NMDC remains the Largest Exporter
National Mineral Development Corporation (NMDC), India’s largest and state owned Iron ore miner with an annual production of 30 MnT, remains the biggest exporter.
The company has long-term agreement with Japanese & Korean steel mills. It exports upto 10% of its annual production to these countries.
|
Company |
Jul’14 |
Aug’14 |
|
MMTC |
222,000 |
147,000 |
|
Bagadiya Brothers |
– |
67,735 |
|
Kashvi Power |
– |
55,000 |
|
Progressive |
– |
35,000 |
|
Chamong Tea |
– |
24,000 |
|
Yazdani International |
– |
20,500 |
|
K K Enterprise |
– |
20,500 |
|
Aliza |
– |
20,500 |
|
Total |
222,000 |
390,235 |
Qty in MT
Provisional Data
Source: SteelMint Research; Port Sites; Seatrans
Spot Iron Ore Prices in China at 2009 Levels
Seaborne Iron ore prices have fallen to nearly lowest in five years mainly on the backdrop of production ramp up by the global miners.
Iron ore prices have declined to just over USD 87/MT; the lowest price since September, 2012.
Leave a Reply