India iron ore exports jump on China demand

Indian iron ore fines, lump and concentrate export shipments increased by 78% y-o-y to 3.8 mn t in Jul'20 mostly due to robust demand for Indian low-grade fines in the Chinese market, according to SteelMint data.

Exports were lower by 3.3% m-o-m from 3.93 mn t in Jun'20. However, part of the reason for m-o-m decline in exports in Jul'20 was the capping of truck movement from mines to Paradip and Gopalpur ports to ease road traffic congestion and maintain social distancing at ports.

Odisha-based miners were active in export of low grade fines. Indian low grade fines (Fe 57%) export price assessment of SteelMint averaged at $72/t CNF China in Jul'20 against $68.5/t in Jun'20.

China continued to remain largest importer

China continued to remain the largest importer of Indian iron ore for the month of Jul'20 at 3.58 mn t. South Korea and Japan imported 0.07 mn t each, followed by the Philippines at 0.06 mn t.

Rungta mines exports up 8% in July'20

Rungta Mines was the largest iron ore exporter, with overseas sales up by 8% m-o-m in Jul'20 at 1 mn t. SM Niryat was the second-largest exporter at 0.74 mn t (up 28% m-o-m), followed by KAI International at 0.29 MnT, and Kashvi Power & Steel at 0.21 mn t. Smaller producers and some international and Indian trading firms accounted for 1.21mn t exports, down from 1.32mn t in June.

Company-wise Indian iron ore exports: July'20 v/s June'20

Qty in mn t, Provisional data,
Source: SteelMint Research, Customs

Port wise Indian iron ore exports

In Jul'20, Paradip port shipped the most iron ore at 1.34 mn t, down by 19% from 1.66 mn t in Jun'20. Gopalpur port came in second at 0.66 mn t, followed by Vizag at 0.59 mn t and Haldia at 0.53 mn t.