India iron ore imports were recorded at 1.11 MnT in Jul’17 according to customs data maintained with SteelMint; the imports were 20 times higher M-o-M against the quantity of 0.06 MnT in Jun’17.
The imports were up 241% at Y-o-Y for the month of Jul against 0.33 MnT in Jul’16.
In FY’18 India’s iron ore imports are at 1.84 MnT up 11% for the same period last fiscal.
Between April and Jun’17 the global iron ore monthly averages prices fell constantly. It fell to USD 57/MT CFR, China in Jun’17 from USD 87/MT CFR, China in Mar’17 before rising again.
India imported 61% of this fiscal’s quantity in the month of Jul’17 , between Apr-Jun the country imported 0.73 MnT iron ore, whereas considering the Indian import logistics the bookings have been made by the buyers as soon as the global iron ore prices started falling in the second week of April’17.
Come Jul’17 the global monthly average spot iron ore fines prices have gone up by USD 10/MT compared to Jun’17 and stood at USD 67/MT CFR, China.
Multiple shippers received the material in Jul’17 and JSW Steel remains the largest iron ore importer with 36% share at 0.41 MnT iron ore. Essar have imported 0.17 MnT iron ore with 15% share. In Jun’17 only one buyer Goa Sponge imported the iron ore at 55,200 MT.
Importers in July 2017
| Importer |
Qty (MnT) |
| JSW Steel |
0.41 |
| Essar Steel |
0.17 |
| Kamachi / Pulkit Steels / Akshara Ind |
0.16 |
| Sal Steel,Welspun,Electrotherm,Barsana |
0.10 |
| Jindal Saw |
0.09 |
| Shraddha Ispat |
0.07 |
| KIOCL |
0.05 |
| Other |
0.06 |
| Grand Total |
1.11 |
Provisional Data
Source: SteelMint Stats
SteelMint had reported a growth in our last month’s report for Jul’17. Six vessels originating from South Africa, two from Brazil and two from Australia and one from Iran have arrived in India in July’17.
Country-wise Import:
South Africa accounted for 49% share in Indian iron ore imports for the Month of Jul’17 at 0.55 MnT, the second largest iron ore importer to India was Brazil with 25% share at 0.28 MnT, a 21% material was imported from Australia at 0.23 MnT and remaining 5% from Iran at 0.05 MnT.
Port-wise Import:
Krishnapatnam was the largest port that imported the 0.33 MnT material in Jul’17 with the share of 30%. The second largest quantity at 0.24 MnT material was imported at Jaigarh port and the remaining was imported at Mangalore.
Port-wise Import in July 2017
| Port |
Qty (MnT) |
% Share |
| Krishnapatnam |
0.33 |
30% |
| Jaigarh |
0.24 |
21% |
| Paradip |
0.17 |
15% |
| Kandla |
0.15 |
14% |
| Mundra |
0.09 |
8% |
| Mormugao |
0.07 |
7% |
| Mangalore |
0.05 |
5% |
| Grand Total |
1.11 |
100% |
Provisional Data
Source: SteelMint Stats
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