Indian Iron Ore Exports Down 28% in Feb'20
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Indian iron ore exports in Feb'20 were recorded at 2.05 MnT in Feb'20, according to data maintained with SteelMint. The exports witnessed decrease of 28% on monthly basis as against Jan'20 exports at 2.85 MnT.
Indian iron ore exports dropped for the month due to the weak demand following coronavirus outbreak in China in Jan'20 which led to falling inquiries for Feb'20 shipments. Indian iron ore exports to China dropped 35% in Feb'20.
Indian iron ore exports to China for the month recorded at 1.71 MnT, down 35% as against 2.63 MnT in Jan'20. Japan stood second largest importer at 0.15 MnT (stable M-o-M).
Rungta iron ore exports dropped 59% in Feb'20
Rungta mines stood the largest iron ore exporter in Feb'20 at 0.41 MnT, contributing 20% of total exports for the month. The exports fell 59% as against 1 MnT in Jan'20. SM Niryat stood second-largest exporter for the month at 0.41 MnT, followed by Kashvi Power at 0.34 MnT, and MMTC at 0.23 MnT.
| Company | Feb20 | Jan20 |
| Rungta Mines | 0.41 | 1.00 |
| SM Niryat | 0.41 | 0.40 |
| Kashvi Power & Steel | 0.34 | 0.12 |
| MMTC | 0.23 | 0.22 |
| Bs Minerals | 0.17 | 0.06 |
| Samruddha | 0.11 | 0.06 |
| Vedanta | 0.09 | 0.19 |
| Other | 0.30 | 0.81 |
| Grand Total | 2.05 | 2.85 |
Qty in MnT, Provisional data,
Source: SteelMint Research, Customs
Paradip port stood largest iron ore exporter in Feb'20
In Feb'20, Paradip port stood the largest exporter of Indian iron ore at 1.18 MnT, up 25% as compared to 0.94 MnT in Jan'20. Vizag port stood second largest at 0.38 MnT (down 45% M-o-M), followed by Redi at 0.17 MnT and Haldia at 0.12 MnT.
