Indian iron ore exports have witnessed decline of 17% in Jan’18 to 1.23 MnT as against 1.50 MnT Dec’17. Iron ore exports from Goa remained majorly stable on monthly premises in Jan’18 and stood at 0.83 MnT. However, export volumes from eastern regions of India fell in Jan’18.
On yearly premises, total iron ore exports have recorded a significant decline of 55% in Jan’18 as against Jan’17.
Increasing buying interest for high grade ore amid stricter environmental norms has resulted in lowering demand for low grade iron ore from India. Vedanta in its quarterly results announced that the company commenced shipments of high quality ore from Goa. Besides, high port inventories and approaching New Year have added to lowering iron ore demand.
In the first ten months of FY’18 (Apr-Jan), India exported 11.01 MnT iron ore, down 35% against same period last fiscal (Apr’16-Jan’17).
Vedanta continues to remain the largest iron ore exporter :
Vedanta, remained the largest iron ore exporter at 0.45 MnT in Jan’18, down 12% against 0.51 MnT in Dec’17. Other major exporters were MMTC (which exports on behalf on NMDC), increased its exports by 57% from 0.14 MnT in Dec’17 to 0.22 in Jan’18. Other major exporters were – Rungta Mines at 0.12 MnT(down by 37% M-o-M) and VM Salgaonkar at 0.09 MnT.
Exports from Panduronga Timblo Industries, Minescape Mineral and Blue Globe recorded at 0.07 MnT, 0.06 MnT and 0.08 MnT respectively, which stood nil in Dec’17.
China iron ore imports from India move down in Jan’18:
China contributed a share of 75% at 0.93 MnT of total iron ore exports from India in Jan’18. China’s iron ore imports from India moved down by 20% M-o-M. Other major destinations were Japan at 0.22 MnT ( 18% share) and South Korea at 0.08 MnT ( 6% share).
Port-wise iron ore exports from India in Jan’18:
Mormugao port accounted for largest share of exports at 0.83 MnT in Jan’18, contributing 67% of total exports, followed by Vizag at 0.22 MnT , Paradip 0.17 MnT and Haldia at 0.01 MnT.
Leave a Reply