Post several mining embargoes on mineral rich states such as Odisha and Jharkhand, import of the key raw material for steelmaking i.e. Iron ore started picking up since Apr’14. Total Iron ore import to India in FY15 (till Feb’15) has touched its peak level of 14.7 MnT.
In FY15, the country has imported the major quantity at ports like Krishnapatnam (8.3 MnT), Mumbai (1.3 MnT), Jaigarh (1 MnT), Paradip (0.9 MnT), Kandla (0.8 MnT) and Haldia (0.5 MnT).
JSW and Tata Steel are the largest importers with total import of 8.9 MnT and 3.3 MnT respectively. Essar remains the 3rd largest importer, followed by Phulchand Exports and Jindal Saw.
Import likely to fall in Mar’15
Iron ore import had decreased by 23% to 2.3 MnT in Feb’15 against 3 MnT in Jan’15. Lesser shipment was due to increase in domestic availability of raw material and declining Iron ore prices in Indian market.
Interestingly, there is no import shipment tracked in coming month, which indicates that import may fall in March. In this current fiscal year, import is expected to be about 15 MnT and JSW will remain the largest importer.
Iron ore mines (excluding PSU & OMC mines) that are awaiting for 2nd & subsequent deemed renewal are likely to auction, as per MMDR act by the government. This in turn will help to increase attainability for Iron ore in the market.
Iron Ore Import in FY15
| Company | Q1 | Q2 | Q3 | Q4 (Jan-Feb) | Total |
| JSW Steel | – | 2,009,274 | 3,791,582 | 2,377,644 | 8,178,500 |
| Tata Steel | 91,487 | 342,036 | 1,310,008 | 1,231,790 | 2,975,321 |
| Amba River Coke | – | – | 446,500 | 289,500 | 736,000 |
| Tata International | – | 225,332 | – | 84,650 | 309,982 |
| Essar Steel | – | – | – | 230,500 | 230,500 |
| Phulchand Exports | – | – | 229,000 | 229,000 | |
| Jindl Saw | – | – | 67,000 | 154,000 | 221,000 |
| Kamachi Group | – | – | – | 169,600 | 169,600 |
| Sunflag Irons, Lloyds Steel, Pushpit Steels, Opg | – | – | 165,000 | – | 165,000 |
| Swiss Singapore | – | 90,710 | – | 59,800 | 150,510 |
| Super Smelters | – | – | 63,900 | 52,000 | 115,900 |
| Visa Resources | – | – | 16,815 | 60,000 | 76,815 |
| Welspun India / Gallantt Metal/ Mono Steel | – | – | 60,500 | 60,500 | |
| SM Niryat | – | – | – | 60,400 | 60,400 |
| Welspun | – | – | 55,000 | – | 55,000 |
| Jai Balaji & Others | – | – | 52,000 | – | 52,000 |
| Maithan | – | 25,500 | 7,200 | 15,400 | 48,100 |
| Electrosteel | – | – | 36,000 | 36,000 | |
| Bangal Energy | – | – | 27,500 | – | 27,500 |
| Prakash Industry | – | – | 26,000 | – | 26,000 |
| Electrosteel/Shyam Group/Sova Ispat | – | – | – | 23,100 | 23,100 |
| N/A | – | 79,985 | 542,242 | 112,832 | 735,059 |
| Total | 91,487 | 2,772,837 | 6,570,747 | 5,246,716 | 14,681,787 |
Quantity in MT; Provisional data
Source: SteelMint Stats, Customs
At present, Indian importers doesn’t seems to be in hurry in order to book the shipment in coming month because of stable global Iron ore prices at around USD 62-64/MT, CFR for Fe 62%.
In Feb’15, Indian currency had appreciated against dollar with monthly average of 61.99 per USD against 62.16 per USD in Jan’15.
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