Indian iron ore export shipments increased to 4 mn t in Sep’20, up 3% m-o-m according to vessel line up data maintained with SteelMint. The exports picked up on rising Chinese demand and restocking ahead of Golden week holidays. Also, Odisha miners remained active in booking cargoes for low grade fines backed by high global prices.
The bookings for Sept’20 export shipments were done in end Jul or Aug. Monthly average global iron ore fines (Fe 62%) price increased to $122/t CFR China towards Aug’20 against $107/t CFR China in Jul’20. Further, the average global iron ore fines (Fe 62%) index increased to $124/t CNF China in Sep’20 as against $122/t, CNF China in Aug’20 amid Australian medium grade fines availability constraints.
On a yearly basis, Indian iron ore export shipments increased significantly as against 1.14 mn t in Sep’19.
Indian iron ore export shipments to China move up
China continued to remain the largest importer of Indian iron ore for the month of Sep’20 contributing 95% of total Indian export shipments of the month at 3.80 mn t against 3.76 mn t in Aug’20. The Chinese imports from India increased on declining exports from major miners in Australia.
Exports to Japan and South Korea stood at 0.07 mn t each.
* SM Niryat remains the largest exporter
SM Niryat remained the largest iron ore exporter, with exports up by 42% m-o-m in Sep’20 at 0.72 mn t. Rungta Mines was the second-largest exporter at 0.58 mn t (down 42% m-o-m), followed by BS Minerals at 0.37 mn t and Kashvi power at 0.34 MnT.
Company-wise Indian iron ore exports: Sep’20 v/s Aug’20
Qty in mn t, Provisional data,
Source: SteelMint Research, Customs
Port wise Indian iron ore exports
In Sep’20, Paradip port shipped a major chunk of iron ore at 1.87 mn t, up by 27% from 1.47 mn t in Aug’20. Vizag port came in second at 0.95 mn t, followed by Gopalpur at 0.48 mn t.
*corrected
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