According to SteelMint analysis, Indian iron ore production is expected to surge by 22% Y-o-Y to 190 MnT in FY17 against 155.9 MnT in FY16. According to provisional data of state government, Odisha – the country’s largest iron ore producing state registered production (fines, lump and concentrate) of 95 MnT in FY17.
Iron ore production in Chhattisgarh is expected to have grown 26% Y-o-Y to 31 MnT in FY17. Output from other major states is anticipated to remain as follows: Karnataka – 26 MnT (up 4% Y-o-Y) and Jharkhand – 22 MnT (up 13% Y-o-Y). Output from other states namely Madhya Pradesh, Maharstra, Andhra Pradesh & Rajasthan is anticipated to remain at 6.5 MnT in FY17.
Sharp surge in iron ore production was seen in state of Goa. As per recent data released by Indian Bureau of Mines, Goa’s iron ore output during Apr’16-Jan’17 stood at 5.74 MnT compared to 0.33 MnT in last fiscal.
India’s largest iron ore producer – NMDC raised iron ore output to 34 MnT in FY17 out of which 22 MnT was produced from Chhattisgarh mines & rest 12 MnT from its mines in Karnataka. Odisha based Rungta Mines produced 22.8 MnT ore and Serajuddin Mines produced 10.89 MnT ore in FY17.
FY16 fig are those of Indian Bureau of Mines
Iron ore exports quadrupled; pellet exports jumped ten-fold in FY17
Increased iron ore & pellet output output and higher global prices resulted in sharp increase in iron ore & pellet exports from India in FY17. Indian iron ore exports jumped from 6.04 MnT in FY16 to 24.35 MnT in FY17. Iron ore exports from Goa increased sharply from 3.86 MnT in FY16 to 14.56 MnT in FY17.
Vedanta remained the largest iron ore exporter at 7.32 MnT followed by Fomento Resources at 3.77 MnT and NMDC at 2.70 MnT. Odisha based Rungta Mines exported 2.5 MnT iron ore in FY17. China accounted for 82% share in total Indian iron ore exports in FY17 followed by Japan (14%), South Korea, Malaysia & Philippines.
Indian pellet exports which were recorded at 0.83 MnT in FY16 moved up to 8.26 MnT in FY17. Jindal Steel & Power (JSPL) remained the largest pellet exporter at 2.29 MnT followed by BRPL at 1.77 MnT and Essar Steel at 1.37 MnT.
Indian iron ore imports remain stable
Indian iron ore imports remained stable at 5.78 MnT in FY17 against 5.62 MnT in previous fiscal. JSW Steel remained the largest importer in FY17 and imported 3.55 MnT iron ore followed by Jindal SAW at 0.41 MnT and Essar Steel at 0.32 MnT.
Pellet imports to India were recorded at 0.34 MnT in FY17 compared to 0.16 MnT in FY16. Entire quantity of pellets imported to India in FY17 was by Essar Steel.
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