Indian Iron Ore Exports Up 32% Amid Chinese Demand

Indian iron ore exports have recorded sharp increase in Nov ’19. The exports witnessed at 2.29 MnT, up 32% M-o-M as against Oct’19 exports at 1.74 MnT. On yearly basis, the exports have depicted a significant rise as compared to Nov’18 exports at 0.83 MnT.

Indian iron ore exports volume in FY20 (Apr-Nov’19) witnessed at 14.7 MnT as against 3.83 MnT in FY19 (Apr-Nov).

What factors contributed to rise in Indian iron ore exports in Nov’19?

1. Global supply tightness: Global shortage of iron ore continues to prevail for the month. Vale on 11th Nov reduced iron ore and pellet sales guidance to 307-312 MnT for 2019 amid dealing with the aftermath of the Brumadinho dam disaster of Jan’19.

2. Falling iron ore inventory at major Chinese ports: The increased stocking amid rising production curbs has led to fall in inventories at major Chinese ports. As per data compiled by SteelHome consultancy, Iron ore inventory at major Chinese ports dropped to 129. 4 MnT towards Nov’19 end as against 131.65 MnT assessed towards end of Oct’19.

Iron ore exports to China increased 22% M-o-M:
China continued to be the largest importer of Indian iron ore for the month of Nov’19 at 1.89 MnT, up 22% as against 1.56 MnT in Oct’19. Japan stood second-largest importer at 0.14 MnT followed by South Korea at 0.07 MnT.

Rungta continued to be India’s largest iron ore exporter
Rungta mines stood the largest iron ore exporter in Nov’19 at 0.82 MnT, up 68% as against 0.49 MnT a month ago. SM Niryat stood second largest exporter at 0.41 MnT, followed by MMTC at 0.28 MnT.

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

Iron ore exports from Paradip port up M-o-M Sharply
Paradip port stood the largest exporter of iron ore for the month of Nov’19 at 1.19 MnT, up 27% as compared to 0.94 MnT last month. Vizag port stood second largest at 0.43 MnT (up 77% M-o-M), followed by Haldia at 0.23 MnT (up 43% M-o-M).