India iron ore imports were recorded at 1.11 MnT in Jul’17 according to customs data maintained with Steel Mint; the imports were 20 times higher M-o-M against the quantity of 0.06 MnT in Jun’17.
The imports were up 24.1% at Y-o-Y for the month of Jul against 0.33 MnT in Jul’16.
In FY18 India’s iron ore imports are at 1.84 MnT up 11% for the same period last fiscal.
Between April and Jun’17 the global iron ore monthly averages prices fell to USD 57/MT CFR, China in Jun’17 from monthly averages prices USD 87/MT CFR, China in Mar 17 before rising again.
India imported 61% of this fiscal’s quantity in the month of Jul’17 between Apr-Jun the country imported 0.73 MnT iron ore, whereas considering the Indian import logistics the bookings have been made by the buyers as soon as the global iron ore prices started falling in the second week of April 17.
Country-wise Import: South Africa accounted for 49% share in Indian iron ore imports for the Month of Jul’17 at 0.55 MnT, the second largest iron ore importer to India was Brazil with 25% share at 0.28 MnT, a 21% material was imported from Australia at 0.23Mn T and remaining 5% from Iran at O.O5 MnT.
Source Steel Mint powered by Keyvan Jafari Tehrani
