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India: Iron ore movement down 52% in Q1 FY'21

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30 Jul 2020, 14:02 IST
India: Iron ore movement down 52% in Q1 FY'21

Iron ore movement across major producing states of the country recorded at 17.97 mn t (excluding exports) in Q1 FY'21, down 52% as against 37.32 mn t in Q1 FY'20, as per SteelMint's analysis. The figures are compiled on the basis of movements made via railways, trucks, and Karnataka and import data as per customs. The figures exclude the captive iron ore movement of SAIL & Tata Steel and movement for exports.

The dispatches fell amid logistic issues and mills curtailing output due to COVID 19.

State-wise iron ore movement analysis:

Odisha iron ore dispatches down sharply in Q1 FY'21
Odisha- India's largest iron ore producing state recorded total merchant iron ore dispatches at 7.96 mn t in Q1 FY'21, down 64% as against 22.25 mn t in Q1 FY'20. The figures exclude movement for export and dispatches of miners- SAIL & Tata Steel.

Dispatches from Chhattisgarh down 27% in Q1FY'21
Iron ore dispatches from Chhatisgarh recorded at 4.19 mn t iron ore in Q1 FY'21, down 27% against 5.73 mn t in Q1 FY'20.

Karnataka iron ore e-auction sales fell 28% in Q1 FY'21

Karnataka has registered 28% decline in total e-auction sales volume to 5.48 mn t in Q1 FY21 compared 7.67 mn t in Q1 FY20. Due to the lock down imposed nationwide amid corona virus pandemic in the month of Apr'20, almost all the southern India (Karnataka) based major steel makers kept their operations suspended.

NMDC sold 1.95 mn t iron ore via Karnataka e-auctions in Q1 FY21. Ramanadurga iron ore mine stood second-largest supplier via Karnataka e-auctions at 0.61 mn t, followed by Vedanta at 0.59 mn t in Q1 FY21.

Indian iron ore imports recorded nil in Q1 FY21
Indian iron ore imports for the quarter recorded nil as against 0.83 mn t in Q1 FY'20. Quarterly average global iron ore fines (Fe 62%) recorded at $94/t in Q1FY21. The prices during the month of June'20 touched ten months high levels at $107/t which were last witnessed towards the beginning of Aug'19 at around $108/t.

Indian iron ore export volumes up 81% in Q1 FY21
Indian iron ore export shipments in Q1 FY21 were recorded at 9.42 mn t, shipments have increased by around 81% compared to 5.21 mn t in Q1 FY20. The exports picked up on high global prices, increased Chinese buying and active bookings from odisha miners.

Rungta Mines stood the largest iron ore exporter in Q1 FY21 at 2.22 mn t. SM Niryat stood second-largest exporter for the quarter at 1.40 mn t, followed by Essel mining at 0.73 mn t, and Kashvi Power & Steel at 0.71 mn t.

Indian pellet export shipments in the first quarter of fiscal FY'21 recorded at 5.07 mn t, pellet exports picked up as against 2.99 mn t in Q1 FY'20. The exports were supported amid Chinese demand accompanied by Brazilian supply concerns during the quarter.

BRPL marked the largest pellet exporter for the quarter at 0.84 mn t, followed by JSPL at about 0.83 mn t and AM/NS at 0.81 mn t.

Indian Iron Ore Movement

Qty in mn t, Import and Export Fig includes pellet
Excluding SAIL & Tata Captive procurement
Source: SteelMint Research

30 Jul 2020, 14:02 IST

 

 

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