Indian iron ore import increased sharply by 49% to 8.6 MnT in FY’18 against 5.79 MnT in FY’17. The decline in iron ore availability due to suspension in mining activities in few major Odisha mines by Apex Court resulted in sharp increase in Indian iron ore imports in last quarter of FY’18.
On monthly basis, iron ore imports were increased sharply by 36% in Mar’18. According to the customs data maintained by SteelMint.India’s imports were registered 1.46 MnT in Mar’18 against 1.07 MnT in Feb’18.
On Y-o-Y basis, In Mar’18 iron ore imports increased in more than three-fold against 0.43 MnT in the same month last year.
Average global iron ore fines (Fe 62%) prices decreased by 10% M-o-M to USD 69/MT, CFR China in Mar’18 compared to USD 77/MT, CFR China in the previous month.
JSW Steel’s Iron Ore Imports Up 41% in FY’18 -:
India’s major steel maker– JSW Steel has imported 5.1 MnT iron ore in FY’18 and turned out to be the largest importer. Also, Kamachi Group imported around 0.71 MnT iron ore along with few other southern India based shippers like Pulkit Steels, Akshara Industries, and SBQ Steels. Other major importers in FY’18 were Jindal SAW at 0.51 MnT, Essar Steel 0.39 MnT.
JSW generally imports ore as hedged cargo (concentrate and fines) under long-term contracts primarily from Brazil and Australia.
In Mar’18, JSW Steel remained the largest importer and Welspun turned out to be the second largest importer with 0.18 MnT against last month imports was nil followed by Kamachi group 0.06 MnT and others 0.1 MnT.
Australia turned out to be the largest source for Indian iron ore imports in FY’18 –
Australia registered 38% share of Indian’s iron ore import in FY’18 with an import volume of 3.27 MnT against no import reported in FY’17. Followed by Brazil 2.78 MnT (down 15%) ,South Africa 2.19 MnT(down 6%) ,Oman 0.31 MnT (up 100%) and Iran 0.05 MnT (down 71%).
On monthly basis, Australia remains at the top exporting country with 1.13 MnT and increased export by almost two folds in Mar’18 against 0.58 MnT in Feb’18. Followed by South Africa at 0.33 MnT down by 15% M-o-M.
Krishnapatnam Port conceded for largest iron ore imports in FY’18 – Krishnapatnam port accounted for 35% share in iron ore imports in FY’18 and turned out to be the highest importing port with 3.02 MnT ore followed by Jaigarh (2.72 MnT), Kandla (1.19 MnT) and Mundra (0.51 MnT), and others 1.16 MnT.
On monthly basis also Krishnapatnam remains at the top importing port at 0.82 MnT (up 55%) followed by Jaigarh port 0.37 MnT (almost doubled to last month) and Kandla at 0.27 MnT (up 78%).
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