NMDC, India’s largest iron ore producer and exporter, is exporting iron ore to Japanese and South Korean mills under long-term trade agreements. In FY16, the miner exported 1.1 MnT iron ore.
A vessel named “ Vishva Anand” carrying 75,000 MT high-grade iron ore is at anchorage. Cargo is likely to ship to Japan.
NMDC follows quarterly pricing policy for its export shipments. For Q2 FY17, the quarterly average price index and the export price would around USD 65.98/MT, FoB India for Baila lump and USD 64.91/MT, FoB India for Baila fines according to market sources.
For Q1 FY17, the export prices were at USD 50/MT, FoB India for Baila lump and USD 41/MT, FoB India for Baila fines. Prices remained down as overall global iron ore market was dull.
In first four months of FY17, total 0.87 MnT iron ore has been exported by NMDC.
It is to be noted that, Indian govt. reduced export duty on iron ore exported by NMDC through LTAs by 20%. Current duty applicable for NMDC is 10% for high-grade ore.
NMDC iron ore exports in FY17 (till 19 Aug’16)
| Date | Vessel Name | Quantity | Material Type | Destination Country |
| 10 Apr’16 | Milagro | 73,150 | Fines | South Korea |
| 15 Apr’16 | New Endeavor | 40,000 | Lumps | Japan |
| 15 Apr’16 | New Endeavor | 30,000 | Fines | Japan |
| 19 Apr’16 | Antares | 75,000 | Fines | Japan |
| 21 Apr’16 | Vishva Vijay | 35,000 | Lumps | South Korea |
| 21 Apr’16 | Vishva Vijay | 35,000 | Fines | South Korea |
| 11 May’16 | Vijayanagar | 33,000 | Fines | Japan |
| 11 May’16 | Vijayanagar | 34,000 | Lumps | Japan |
| 15 May’16 | Katerina | 73,000 | Fines | Japan |
| 22 May’16 | Golden Heiwa | 30,000 | Lumps | Japan |
| 22 May’16 | Golden Heiwa | 44,000 | Fines | Japan |
| 2 Jun’16 | Ck Bluebell | 77,000 | Fines | South Korea |
| 19 Jun’16 | Abyo Oprah | 73,000 | Fines | Japan |
| 20 Jun’16 | Ocean Emerald | 77,000 | Fines | South Korea |
| 3 Jul’16 | Vishva Vinay | 73,000 | Fines | Japan |
| 15 Jul’16 | Prabhu Shakti | 70,000 | Fines | Japan |
| 12 Aug’16 | Key Knight | 70,000 | Fines | Japan |
| 19 Aug’16 | Vishva Preeti | 77,000 | Fines | Japan |
| Total | 1,019,150 |
Quantity in MT
Source: SteelMint Stats, Customs
Provisional Data
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