Iron ore movement stops from Indian west coast amid monsoons

With monsoons hitting Indian coast, iron ore fines movement have almost stopped from Goa as extraction and transportation of ore becomes difficult during rains due to logistic reasons.

Goa is India's largest exporter of low grade iron ore. The indications are that the exports would be down by 15 per cent for the current financial year on high export duty, said Goa Mineral and Ores Exporters Association Secretary Mr Kalavampara.

It is also reported that only lumpy iron is being stocked before monsoon.”Movement of fines have almost stopped from Goa, but few mining companies are stocking up lumps to take advantage during monsoons.” said an exporter based in Goa.

It is also reported that a big Indian exporter concluded a deal of 54% Fe lump at $99/t CFR.