Indian Iron Ore Imports in Oct’15: Updates

1. Iron ore imports to India remained nil in Oct’15 
2. Gujarat based plants prefer imported ore over its cost effectiveness
3. JSW Steel to import one more vessel containing pellet feed in Jan’15

Iron ore imports to India remained nil in Oct’15. However quite a number of iron ore import vessels are expected to arrive in this month. In first seven months of this fiscal year (Apr’15-Oct’15) India has imported 3.18 MnT iron ore.

Gujarat based plants continue importing South African lump

Falling global iron ore prices and reduction in lump premium have made imported iron ore lump offers cost effective. Gujarat based plants are seen importing iron ore.

Recently, Bagadiya Brothers has imported a vessel named “Alam Sayang” of about 59,900 MT iron ore.

Another vessel of 90,000 MT iron ore lump is expected to reach Kandla Port by end of Nov’15. As per sources, the vessel is being imported by Gallant Metal, Varssana Ispat, Welspun and Monosteel.

One more vessel of South African lump is likely to reach Kandla Port by by end of Dec’15

JSW Steel to import another import vessel of pellet feed in Jan’15

JSW Steel is about to import 142,000 MT high grade (Fe 67%) pellet feed from Brazil at Jaigarh Port via vessel named “MV K Ambition”. The vessel is expected to arrive at port on 06 Nov’15. Prices of iron ore concentrate (Fe 66%) are around USD 55.93/MT, CFR China

“One more import vessel of JSW Steel comprising of high grade (Fe 67%) pellet feed is expected to arrive in Jan’15. Company is also in discussions to continue the import of pellet feed in the next calendar year. However, nothing has been finalized yet.

Import of South African lump is viable owing to its high Fe content and drop in global iron ore prices have made them cost effective. Thus import of lump to India might continue, whereas viability for import of fines is less”- quoted an official.

No pellet imports to India observed in Oct’15

Pellet imports to India remained nil in Oct’15. In Sept’15 there was one pellet import shipment of 50,600 MT by Jindal Steel & Power from UAE.