Indian Iron Ore Imports Down 21% in May’19 Amid High Global Prices

Indian iron ore imports in May’19 have been recorded at 313,530 MT, according to the data maintained by SteelMint, Indian iron ore imports witnessed 21% decline for the month compared to 395,000 MT in Apr’19. The imports have dropped amid high global prices. The global iron ore prices reached five years high in May’19 at USD 108/MT.

However, on yearly basis, imports fell 80% as compared to 1.59 MnT in May’18. Indian imports of iron ore for CY19 (Jan-May’19) witnessed at 1.90 MnT, down 73% against 7.05 MnT in CY18 (Jan-May’18).

Average global iron ore fines prices picked up in May’19

Monthly average global iron ore fines (Fe 62%) prices in May’19 recorded at USD 99/MT, , up USD 6/MT against USD 93/MT, CFR China in Apr’19.

JSW Steel imported 0.19 MnT iron ore in May’19

India’s major steel maker– JSW stood the largest importer for the month of May’19 at 0.19 MnT in line with last month imports by the company. Imports were done from Australia and South Africa. KIOCL stood largest importer at 0.08 MnT followed by Swiss Singapore at 0.05 MnT.

Shipper wise iron ore imports

Qty in MT, Provisional data,
Source: Steelmint Research, Customs

Brazil turned out to be the largest iron ore exporter to India

For the month of May’19, Brazil stood the largest iron ore exporter to India at 0.27 MnT, up sharply more than four-times as against 0.06 MnT a month ago. Iron ore Imports from Brazil picked up amid easing supply concerns from Vale.

South Africa iron ore imports dropped to 69% at 0.05 MnT in May’19 as against being 0.15 MnT a month ago. High lump prices was the reason dropped in exports from South Africa. Australia exports to India dropped to nil for the month of May’19.

Port-wise Indian iron ore imports

Jaigarh port contributed the largest share of imports at 0.19 MnT (stable) . Mangalore stood second largest importer at 0.08 MnT followed by Kandla at 0.05 MnT (up 8%).