Indian Iron Ore Export Up by 68% in Sept’16

Indian iron ore exports have shown tremendous growth of 68% in Sept’16. As monsoon has almost retreated, pick up in Odisha iron ore exports and resumption in Goan exports, which together contribute around 70% share, has led to total Indian iron ore exports growth.

As per customs data maintained by SteelMint, total iron ore exports was registered at 0.87 MnT in Aug’16 as compared to 0.51 MnT in Jul’16. Iron ore exports remained nil in Aug’15.

In the first six months of FY17, Indian iron ore exports increased substantially and were registered at 7.0 MnT, as the country exported only 39,300 MT iron ore in the same consecutive months last year.

In Sept’16, resumption of Goan iron ore exports has raised Indian iron ore exports. Vedanta, the largest iron ore exporter, whose exports remained nil last month and were very nominal in Jun’16 due to good monsoon, has exported 0.11 MnT in the month of Sept’16.

Odisha-iron ore exports double in Sept’16

Low-grade iron ore export from Odisha has picked up and was recorded at 0.53 MnT against 0.29 MnT in the month of Jul’16. It is to be noted that exports vessels were lined up from Odisha-based ports namely Paradip and Dhamra leading to port congestion.

Export from Paradip Port was recorded highest in FY17 at 0.36 MnT, nearly threefold as it was 0.13 MnT in the month of Jul’16 due to increased iron ore and pellet exports from Odisha.

India majorly exports iron ore to China, Japan, and South Korea.Out of the total iron ore exports in the month of Sept’16, 75% has been exported to China, 7.8% to Japan and 8.5% to South Korea.

Starting FY17 (till Sept’16), total 5.3 MnT iron ore has been exported to China, 1.1 MnT to Japan and 0.46 MnT to South Korea.

Party-wise iron ore exports from India in Sept’16

Qty in MT
Source: SteelMint Stats, Customs
Provisional Data