Indian iron ore import stood at 928,800 MT in Apr’16. Imports have increased by 19% M-o-M in Apr’16. In Mar’16, iron ore imports were registered as 778,250 MT. In FY16, iron ore imports were registered at 5.6 MnT, down by around 63% as compared to FY15 as it was 15.1 MnT. Pellet import to India continues to remain nil in Apr’16.
The key importer was JSW Steel at 470,000 MT followed by Essar Steel at 175,000 MT. All the import shipments registered last month were from Brazil and South Africa.
JSW Steel turned out to be the major iron ore importer in Apr’16. It procures fines and pellets concentrate majorly from Brazil. The miner bought three iron ore import vessels in Apr’16 which were held cargoes booked before but arrived in Apr’16. The price of concentrate (Fe 65%) was assessed at USD 71.4/MT, CFR China towards the end of Apr’16, up by USD 10/MT M-o-M.
Indian iron ore import in Apr’16
| Date | Shipper | Quantity (MT) |
Material Type |
Vessel Name |
Loading Country |
Unloading Port |
| 07 Apr’16 | Essar Steel | 175,000 | N/A | Golden Magnum | South Africa |
Hazira |
| 10 Apr’16 | JSW Steel | 160,000 | Fines | Q Myrtalia | Brazil | Jaigarh |
| 12 Apr’16 | JSW Steel | 150,000 | Pellet feed/ concentrate |
Star Princess | Brazil | Jaugarh |
| 19 Apr’16 | SAL Steel & Monosteel |
90,000 | Lump | Scotian Express | South Africa |
Kandla |
| 27 Apr’16 | JSWSteel | 160,000 | Fines | Wisdom of the Sea 1 |
Brazil | Jaigarh |
| 28 Apr’16 | Electrotherm, Monosteel, Varsanna and Welspun |
93,800 | Lump | Venus History |
South Africa |
Kandla |
| 30 Apr’16 | N/A | 100,000 | N/A | Mbarosaria | South Africa | Krishnapatnam |
| 928,800 |
Qty in MT
Provisional data
Source: SteelMint Stats, Customs
Amid a surge in global iron ore prices by around USD 11/MT in Apr’16, Indian iron ore importers hesitant to book any new import vessel. As of now, no import shipment is been booked by any of the importers. Current, index price for Fe 62% fines are at USD 63/MT, CFR China as on 03 May’16. There is a shift in buying interest of iron ore importers as they are preferring domestic ore over imported.
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