India: Iron Ore Exports Up Four Fold in Oct'18
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Indian iron ore export increased significantly in Oct'18 and was recorded at 0.42 MnT as against 0.12 MnT in Sep'18. On yearly basis, the exports have witnessed fall of 42% as against 0.74 MnT in Oct'17.
Amidst uncertainty on sintering and production cuts in Chinese market, Chinese mills depicted preference to fines. This resulted in sharp hike in iron ore fines prices and spot iron ore fines prices touched 8-month high towards Oct'18 end.
NMDC resumes iron ore export
MMTC (which exports on behalf of NMDC) recorded first export shipment for FY19 in Oct'18 at 0.07 MnT. Amid pending renewal of LTA and finalising export duties, NMDC iron ore exports were delayed.
Rungta Mines stood the largest exporter of iron ore in Oct'18 contributing 52% of total exports at 0.22 MnT, up four folds on monthly basis.
SM Niryat witnessed exports at 0.05 MnT (down 14% M-o-M). Fomento resources, Goa depicted exports at 0.08 MnT in Oct'18.
Shipper-wise Indian Iron Ore Exports
| Company | Oct'18 | Sep'18 | M-o-M (%) |
| Rungta Mines | 222,090 | 55,000 | 304% |
| Fomento Resources | 77,000 | - | 100% |
| MMTC | 72,000 | - | 100% |
| SM Niryat | 53,100 | 62,000 | -14% |
| Grand Total | 424,190 | 117,000 | 263% |
Indian exports to China up 90% in Oct'18
China continued to be the largest importer of Indian iron ore in Oct'18 and imported 0.22 MnT in Oct'18, up 90% as against 0.12 MnT in Sep'18.
Exports to Non-Chinese market observed at 0.20 MnT
Indian exports to non-Chinese market recorded at 0.20 MnT against being nil a month before. Exports to Japan witnessed at 0.07 MnT against being nil since June'17. Exports to Malaysia stood at 0.05 MnT, first shipment in FY19.
Iron Ore exports from Paradip port increased 18% in Oct'18
In Oct'18, Paradip port stood the largest exporter of Indian iron ore at 0.14 MnT, up 14% as against 0.12 MnT in last month. Exports from Dharma port witnessed at 0.11 MnT followed by Mormugao at 0.08 MnT.
