Indian Iron Ore Movement Up 16% in Dec'19

As per SteelMint's analysis, iron ore movement across major producing states of the country recorded at 15.52 MnT (excluding exports) in Dec'19, up 16% M-o-M as against 13.39 MnT in Nov'19. 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.

State-wise iron ore movement analysis:

Odisha iron ore dispatches increased 11% in Dec'19
Odisha- India's largest iron ore producing state recorded total iron ore dispatches at 9.32 MnT in Dec'19, up 11% on a monthly basis as against 8.37 MnT in Nov'19. The figures exclude movement for export and dispatches of miners- SAIL & Tata Steel.

Almost all the miners from Odisha increased iron ore fines and lumps offers in the last one month, fines by around INR 600-700/MT and in lumps around 1,000-1100/MT (Ex-mines). Few major miners have already made aggressive bookings in last months as steel mills were actively restocking material ahead Mar'20 lease expiry.

Dispatches from C.G picked up 8% in Dec'19
Iron ore dispatches from Chhattisgarh recorded at 1.97 MnT iron ore in Dec'19, up 8% as against 1.82 MnT in Nov'19.

NMDC (Chhattisgarh) supplied a total 387 rakes (1.49 MnT) of iron ore in the month of Dec'19, up 11% against 348 rakes (1.34 MnT) a month before in Nov'19, according to railway movement data maintained with SteelMint.

Karnataka iron ore E-auction sales up 37% for the month
Karnataka e-auction sales increased by 37% in Dec'19 to 3.6 MnT as compared to 2.62 MnT in Nov'19. Karnataka's monthly iron ore sales hit almost four years high in Dec'19 as similar levels were last seen in Mar'16 at 4.03 MnT.

Karnataka iron ore e-auction sales volume increased 21% Y-o-Y in CY'19. Total iron ore allotted quantity was recorded at 31.16 MnT in CY'19 compared to 25.69 MnT in CY'18. NMDC was the largest iron ore supplier via Karnataka e-auction and sold 8.5 MnT iron ore via e-auctions in CY'19, down by 11% Y-o-Y against 9.59 MnT last year.

Indian iron ore imports fell 17% in Dec'19
Indian iron ore imports for Dec'19 depicted 17% drop on monthly basis to 0.10 MnT as against 0.12 MnT in Nov'19. The imports for consecutive three months from Aug'19 to Oct'19 witnessed nil amid competitive domestic offers.

Indian iron ore imports for the year CY19 recorded at 2.19 MnT, 86% fall against 15.66 MnT in CY'18. The imports fell amid low domestic offers, global material crises and high global prices. The spot iron ore prices for the year (CY'19) increased to USD 94/MT, CFR China as compared to USD 70/MT, CFR China in CY18, rendering imports unviable for the year.

Indian iron ore exports volumes fell marginally in Dec'19
Indian iron ore exports volume for Dec'19 witnessed marginally drop to 2.28 MnT as against 2.29 MnT a month ago.

The exports for CY19 witnessed at 19.14 MnT, up 82% on yearly basis as against CY'18 exports at 10.53 MnT. Rungta mines stood the largest iron ore exporter in CY19 at 4.12 MnT, up 78% as against 2.31MnT in CY'18. SM Niryat stood second-largest exporter for the year at 3.89 MnT (up against 0.32 MnT in CY18), followed by MMTC at 2.30 MnT.

Indian pellet exports up 11% in Dec'19
Indian pellet exports in Dec'19 depicted 11% hike to 1.30 MnT compared to 1.17 MnT in Nov'19.

Indian pellet export volumes in CY'19 recorded at 13.01 MnT, up 59% on yearly basis as against 8.19 MnT in CY'18. Exports picked up amid rise in Chinese production curbs. BRPL marked the largest Indian pellet exporter for the year CY19 at 3.03 MnT, up 49% compared to 2.03 MnT in CY'18. JSPL stood second largest exporter at 2.24 MnT (up 39% Y-o-Y) followed by KIOCL at 2.06 MnT (up 41%).

Indian Iron Ore Movement

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