- Indian imports touch 3 MnT in Q2 FY15
- Global Iron ore prices hit 5-year low at USD 78/MT (Fe 62%) CFR China
- Indian government had increased royalty on Iron ore by 5% w.e.f September, 2014
- JSW Steel imported about 2 MnT, out of the total imports of 3 MnT
- Krishnapatnam port handled about 1.94 MnT of imported ore
Indian Iron ore imports hit around 3 MnT in Q2 of this fiscal, according to SteelMint’s stats, which covers over 28 ports in India.
Imports have boosted up as several mines in top producing states like Odisha and Jharkhand have been closed this year following government imposed restrictions on the renewal of mining licenses. Another reason why imports have moved up is falling Iron ore prices in the global market, which has touched a 5-year low – makes a good sourcing option for Indian steelmakers struggling for domestic Iron ore.
Increased royalty on key minerals including Iron ore has made domestic Iron ore dearer by at least INR 150-300/MT (USD 2.5- 5/MT).
JSW Steel – The Largest Importer
JSW Steel, having an annual capacity of 14.3 MnT crude steel, is the largest importer in this fiscal year that contributed over 65% of total imports of Iron ore. Company has imported about 2 MnT in Q2 FY15.
Iron Ore Imports in Q2 FY15
|
Receiver |
Dhamra |
Haldia |
Jaigarh |
Kandla |
Krishnapatnam |
Mangalore |
Paradip |
Grand Total |
|
JSW Steel |
– |
– |
157,843 |
– |
1,612,936 |
238,495 |
– |
2,009,274 |
|
Tata International |
– |
– |
– |
– |
334,868 |
– |
|
334,868 |
|
TSIL, TIL, Maithan |
– |
– |
– |
– |
– |
– |
82,000 |
82,000 |
|
Tata |
24,000 |
62,000 |
– |
– |
– |
– |
90,000 |
176,000 |
|
Swiss Singapore |
– |
– |
– |
90,710 |
– |
– |
– |
90,710 |
|
SIMEC |
– |
– |
– |
– |
– |
– |
79,800 |
79,800 |
|
Gallantt |
– |
– |
– |
53,200 |
– |
– |
– |
53,200 |
|
N/A |
– |
– |
– |
134,233 |
– |
– |
– |
134,233 |
|
Grand Total |
24,000 |
62,000 |
157,843 |
278,143 |
1,947,804 |
238,495 |
251,800 |
2,960,085 |
Qty in MT
Source: SteelMint Stats, Port Sites, Customs
Provisional Data
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