The economic slump in China has resulted into increased pilling up of Iron ore stocks at Chinese major ports and reduced imports last month
In May, 14, India’s Iron ore export fell by 21% in contrast to previous month and stood at 0.75 MnT. Steel manufacturers in China witnessed a fall in output during May’14 thus augmenting the lesser demand.
- Iron ore export declined owing to increase in Iron ore stocks at China’s major ports, which is at all time high of 113.5 MnT. In May, 2014, Fe 62% spot Iron ore fines prices stood at an average of USD 98.5/MT CFR China in comparison with average of USD 114.4/MT CFR China in Apr, 2014
- In May, 2014, MMTC was the largest exporter at 0.28 MnT and Vizag port exported the major quantity i.e. 0.31 MnT
- In contrast with Apr’14, Iron ore exports from Paradip & Haldia ports declined by 76% & 91% respectively in May, 2014
- Panaji & Mormugao ports exported 0.19 MnT & 0.13 MnT Iron ore respectively, which was procured from Goa e-auctions
- In comparison with Apr’14, exports from East Coast of India observed a fall of 55% last month
|
Iron Ore Export from Indian Ports in May’14 |
||||||
|
Shipper |
Vizag |
Panaji |
Mormugao |
Paradip |
Haldia |
Total |
|
MMTC |
287,100 |
– |
– |
– |
– |
287,100 |
|
Royal Line |
– |
194,000 |
30,000 |
– |
– |
224,000 |
|
Bagadiya Brothers |
– |
– |
98,000 |
33,080 |
– |
131,080 |
|
Rungta |
– |
– |
– |
56,000 |
– |
56,000 |
|
Spong |
26,000 |
– |
– |
– |
– |
26,000 |
|
Ghanshyam |
– |
– |
– |
– |
16,000 |
16,000 |
|
EMARS |
– |
– |
– |
10,000 |
– |
10,000 |
|
Grand Total |
313,100 |
194,000 |
128,000 |
99,080 |
16,000 |
750,180 |
Ports such as Dhamra, Krishnapatnam, Mundra, Karaikal, Kakinada & Mangalore have been considered; no Iron ore export were seen in May’14. Redi port has not been considered
Provisional Data
Qty in MT
Source: SteelMint Research
Leave a Reply