Indian Iron Ore Exports Up 19% in July’19
Indian iron ore export volumes for July’19 stood at 2.13 MnT, up 19% as against 1.79 MnT in June’19. On yearly basis, exports increased significantly compared to July’18 at 0.17 MnT.
Indian iron ore exports picked up for the month amid high global prices in Jun-Jul’19. Monthly average global iron ore fines (Fe 62%) index price witnessed hike to USD 120/MT, CFR China in July’19 as against USD 108/MT, CFR China in June’19. The prices for the month were hovering five years high levels at USD 126/MT, CFR China towards early July.
Rungta turned out to be India's largest iron ore exporter
Rungta stood largest iron ore exporter in July’19 at 0.33 MnT, up 12% as against 0.29 MnT in June’19. SM Niryat stood second largest exporter and its exports dropped 44% to 0.31 MnT. MMTC exports picked up sharply to 0.30 MnT.
India iron ore exports to China fell marginally
China continued to be the largest importer of Indian iron ore for the month at 1.65 MnT, down marginally due to thin steel margins as against 1.71 MnT in June’19. Japan stood second largest importer at 0.22 MnT followed by South Korea at 0.08 MnT.
Exports from Paradip port up in July’19
In July’19, Paradip port stood the largest exporter of Indian iron ore at 0.80 MnT, up as compared to 0.79 MnT in last month. Vizag port stood second largest at 0.46 MnT, followed by Haldia at 0.31 MnT and Gangavaram at 0.20 MnT.
Outlook: As per SteelMint analysis, recent fall in global iron ore prices, sluggish buying interest and falling Chinese currency to sensitive level amid US tariff may restrict Indian iron ore exports.
source: SteelMint
Top News
Six last month
MinRes halts Bald Hill mine amid lithium price rout
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Swapping aluminum for copper will maintain China’s resources, group says
Gold loses some luster after Trump’s decisive win
Hedge funds slash bullish wagers on gold over Trump election win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Families gather at South African mine shaft where hundreds are feared stuck underground
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
