Indian Iron Ore Exports Hit Over 2 Years High in Jan’20

Indian iron ore exports in Jan’20 were recorded at 2.85 MnT in Jan’20, highest since Apr’17, according to data maintained with SteelMint. The exports witnessed increase of 25% on monthly basis as against Dec’19 exports at 2.28 MnT.

Indian iron ore exports picked up amid reduced material availability by major iron ore miners from Australia and Brazil. Towards early Dec’19, Vale announced the temporary suspension at Laranjeiras dam and towards early Jan’20, the miner conveyed suspension of waste and tailings operations at its Esperança mine in Brumadinho, Minas Gerais. Hence, the aftermath of Vale dam disaster and Australian cyclone continue to exert pressure on global material supply.

Indian iron ore exports to China up 26% in Jan’20

Indian iron ore exports to China for the month recorded at 2.53 MnT, up 26% as against 2.01 MnT in Dec’19. The exports to China picked up amidst restocking by mills ahead of New Year Holidays that begun on 24th January. Japan stood second largest exporter at 0.15 MnT (down 32%), followed by South Korea at 0.07 MnT.

Rungta iron ore exports reached 1MnT for Jan’20

Rungta mines stood the largest iron ore exporter in Jan’20 at 1 MnT, contributing 35% of total exports for the month. The exports increased 53% as against 0.65 MnT in Dec’19. SM Niryat stood second-largest exporter for the month at 0.40 MnT, followed by Essel mining at 0.33 MnT, and MMTC at 0.22 MnT.

Qty in MnT, Provisional data,
Source: SteelMint Research, Customs

Paradip port stood largest iron ore exporter in Jan’20

For Jan’20, Paradip port stood the largest exporter of Indian iron ore at 0.94 MnT, down 21% as compared to 1.19 MnT in Dec’19. Vizag port stood second largest at 0.69 MnT, followed by Haldia at 0.49 MnT and Redi at 0.19 MnT.

Outlook-: Global iron ore exports is expected to drop down following Coronavirus outbreak in China at the end of Jan 2020 that may delay the spring restart of construction projects.