As per SteelMint’s analysis, iron ore movement across major producing states of the country recorded decline of 23% M-o-M in Apr’18 to 9.94 MnT as against 12.97 MnT in Mar’18. The figures are compiled on the basis of movements made via railways, trucks, Karnataka and import data as per customs. The figures indicated do not include the captive iron ore movement of SAIL & Tata Steel and movement for exports.
State-wise iron ore movement analysis:
Iron ore dispatches from Odisha declined 10% in Apr’18
Iron ore dispatches from Odisha have witnessed a decline of 10% M-o-M in Apr’18 to 5.35 MnT as compared to 5.91 MnT in Mar’18. Rungta Mines recorded highest dispatch in Apr’18 at 1.64 MnT, down marginally as against 1.68 MnT in Mar’18, followed by Serajuddin at 0.63 MnT(up 31% M-o-M) and OMC at 0.61 MnT (down 17% M-o-M).
NMDC C.G. Iron ore dispatches fell in Apr’18
India’s largest iron ore miner, NMDC supplied 317 rakes of iron ore from Bailadila mines, Chhattisgarh in Apr’18, decline of 14% as against supply of 367 rakes in Mar’18. Out of 317 rakes supplied, 45 rakes were moved to state based units which stood up 10 % M-o-M against 41 rakes in Mar’18. A total of 272 rakes were supplied to outside CG based units (down 5% M-o-M) and movement for exports recorded nil. NMDC’s LTA for supply of iron ore through MMTC to South Korea and Japan ended on 31 Mar’18, which adversely affected the exports.
Karnataka iron ore e-auction sales hit record low in Apr’18
Karnataka has registered decline in iron ore sales via e-auctions in Apr’18. The state depicted significant decline by 53% M-o-M in iron ore sales reaching 1.30 MnT as against 2.77 MnT in Mar’18. NMDC sold 0.19 MnT in Apr’18, down sharply by 86% as against 1.39 MnT in Mar’18 via e-auctions. NMDC rolled over prices for Apr’18, i.e in line with Mar’18 prices but later in the month (18th April) decreased its iron ore prices by INR 80-110/MT for rest of the month deliveries. JSW Steel continued to be the largest buyer at 0.62 MnT, followed by BMM Ispat at 0.16 MnT.
Indian iron ore & pellet imports decreased by 37% in Apr’18
Indian iron ore & pellet imports recorded at 0.97 MnT, down 37% as against 1.54 MnT in Mar’18. Out of the complete material, 0.97 MnT of imports stood iron ore while pellet imports for the month of Apr’18 stood nil.
JSW was the largest iron ore importer at 0.67 MnT in Apr’18. Out of 0.67 MnT iron ore imported by JSW Steel from Australia in Apr’18, 0.5 MnT was imported at Krishnapatnam port and rest 0.17 MnT at Jaigarh port. Kamachi Group stood second largest importer at 0.15 MnT (up more than two fold M-o-M) followed by Goa sponge at 0.11 MnT and Sree Rengaraaj Ispat at 0.05 MnT .
Indian iron ore exports drops 54% in Apr’18
Indian iron ore exports have decreased by 54% to 1.22 MnT in Apr’18 against 2.63 MnT in Mar’18.
Imposed Goa mining ban post 15th Mar’18, less demand for low grade ore by China and no exports from NMDC owing to expiry of LTA resulted in decrease in exports from India.
VM Salgaonkar marked the largest exporter of iron ore from India in Apr’18 at 0.52 MnT, up by thrice M-o-M as against 0.17 MnT in Mar’18. Vedanta stood the second largest exporter at 0.35 MnT, down 47% on monthly basis compared to 0.66 MnT in Mar’18. Other major exporters in Apr’18 were Infrastil Global Impex at 0.12 MnT(down 62% M-o-M), followed by Chowgule and Company at 0.09 MnT (up 17%) and Rungta Mines at 0.06 MnT (down 82% ). Vedanta, largest Indian iron ore exporter reported decline in exports for the month due to ban imposed on Goan mines w.e.f 15th Mar’18.
Indian pellet exports have registered significant decline of 20% to 0.60 MnT in Apr’18 against 0.75 MnT in Mar’18.
BRPL marked the largest pellet exporter for the month of Apr’18 at 0.16 MnT, accounting 27% of total exports share, up marginally against Mar’18 exports. KIOCL stood the second largest exporter with exports at 0.12 MnT, (down 27% M-o-M) followed by Essar Steel at 0.11 MnT (up 94%), JSPL at 0.10 MnT ( down 61%), Rashmi Metaliks at 0.06 MnT and Bagadiya Brothers at 0.05 MnT.
The decline in pellet exports was owing to declining prices and high port stock inventory. Towards end of Mar’18, Indian pellet export prices fell to 7-month low to USD 96-97/MT, FoB India owing to fall in Chinese steel prices and fall in iron ore fines index. The pellet inventory grew by 0.5 MnT in a week, to 2.15 MnT on 23rd Mar’18 as against 1.95 MnT assessed on 16th Mar’18.
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