Indian Iron Ore Imports Drop 9% in Oct’18

JSW Steel’s iron ore import volume fall 29% to 0.52 MnT in October.

Indian iron ore imports in Oct’18 were recorded at 1.02 MnT, according to the data maintained with SteelMint. On monthly basis, imports witnessed decline of 9% as against 1.12 MnT in Sep’18. On yearly basis, imports depicted increase to two folds as compared to Oct’17 imports at 0.49 MnT.

Average global iron ore fines prices increased 7% M-o-M

Monthly average global iron ore fines (Fe 62%) prices in Oct’18 recorded at USD 73/MT, CFR China, up by 7% on monthly basis as against Sep’18 price at USD 68/MT, CFR China.

So far in FY’19 (Apr-Oct’18), the total iron ore imports recorded at 8.55 MnT, up significantly against 3.06 MnT for same duration previous year FY’18 (Apr-Oct’17).

JSW Steel imports down 29% in Oct’18 

JSW Steel continued to remain largest importer of iron ore for the month of Oct’18 at 0.52 MnT, down 29% compared to last month imports at 0.74 MnT. JSW Steel imported 0.19 MnT iron ore from Australia and 0.33 MnT from Brazil. Cost effective iron ore prices in domestic market must have resulted in lower import volumes.

SteelMont stood second largest importer at 0.16 MnT (up three folds on monthly basis) followed by Swiss Singapore and Welspun Steel at 0.09 MnT each.

Gujarat based importers imported 0.14 MnT iron ore lump from Australia and South Africa. Amid logistics issues in South Africa, mills had booked lump from Australia.

Swiss Singapore, KIOCL and Essar Steel marked imports at 0.09 MnT, 0.06 MnT and 0.06 MnT respectively against being nil a month before. Essar Steel imported fines from Malaysia in Oct’18.

India’s iron ore import from Iran increased in Oct’18

In Oct’18, Brazil stood largest exporter of iron ore to India at 0.33 MnT up two folds M-o-M, contributing 32% of total imports. Indian imports from Australia stood at 0.28 MnT, down 52% on monthly basis followed by South Africa at 0.20 MnT (down 40% M-o-M). Indian imports from Iran increased two folds on monthly basis to 0.16 MnT in Oct’18.

In FY’19 (Apr-Oct’18), Australian exports to India marked highest at 5.28 MnT, followed by South Africa at 1.70 MnT and Brazil at 1.13 MnT.

Country wise Indian Iron Ore Import

Quantity in MnT
Source: SteelMint Research
Provisional data

Indian iron ore imports at Mangalore port increased four folds in Oct’18

In Oct’18, Jaigarh port witnessed imports at 0.33 MnT, down 7% M-o-M as against 0.36 MnT in last month. Imports at Mangalore port increased four folds to 0.22 MnT followed by Krishnapatnam port at 0.19 MnT (down 50%) and Kandla at 0.14 MnT (down 25% M-o-M).