Indian iron ore imports were recorded at 0.68 MnT in Nov’17 according to the customs data maintained by SteelMint. India’s imports were up 39% M-o-M against 0.49 MnT in Oct’17. The imports were also up 21% Y-o-Y in Nov’17 against 0.56 MnT in Nov’16.
West India (Gujarat) based steel mills are actively looking for raw material (Iron ore) amid reduced iron ore movement from central India (NMDC) following disruption in K-K railway line and scheduled maintenance shutdown at Jindal SAW which a major source of pellets for Gujarat mills.
Therefore they have actively booked vessels of South African lump which will be arriving in the months of Dec’17 and Jan’18 as well.
JSW Steel imported iron ore fines from Australia and Brazil -:
India’s major steel maker– JSW has imported 0.34 MnT iron ore from Brazil and Australia in Nov’17 and turned out to be the largest importer. Out of 0.34 MnT iron ore imported by JSW Steel in Nov’17, 0.17 MnT low grade iron ore fines was imported from Australia at Krishnapatnam port and remaining 0.17 MnT iron ore was imported from Brazil.
Kamachi Group remained the 2nd largest importer in Nov’17 at 0.19 MnT followed by Shradha Ispat (0.09 MnT). Another import vessel carrying 0.07 MnT South African lump was booked by Gujarat based steel mills and arrived at Kandla port in Nov’17.
Australia turned out to be the preferred source for iron ore imports in Nov’17-Australia registered the 53% share of Indian’s iron ore import in Nov’17 with import volume of 0.36 MnT followed by Brazil (0.17 MnT) and South Africa (0.15 MnT).
Port-wise Indian iron ore imports in Nov’17 –Krishnapatnam port accounted for 53% share in Nov’17 iron ore imports to India followed by Jaigarh (0.17 MnT), Mormugao (0.09 MnT) and Kandla (0.06) MnT.
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