Monthly average global iron ore fines (Fe 62%) prices in July`18 stood at USD 65/MT, CFR China, mostly stable against June.
The rise in monthly imports is attributed to hike in iron ore prices by Odisha merchant miners resulting in shift towards imports. Major Odisha miners had raised prices by INR 150-200/MT in early June. After this they announced price hike of INR 300/MT in lump and fines earlier in July`18 following increase in Royalty.
For the duration FY`19 (Apr-July`18), the total imports recorded at 5.03 MnT, up by more than two folds as compared to imports for same duration previous year FY`18 (Apr-July`17) at 1.84 MnT.
JSW Steel`s Iron Ore imports increased sharply in July -
JSW Steel imported 1.27 MnT of iron ore in July`18 and remained the largest importer contributing 82% share of total Indian iron ore imports for the month. The imports depicted significant rise on monthly basis to more than twice as against 0.47 MnT in June`18. Out of the total imports in July`18, JSW imported 1.09 MnT from Australia and remaining 0.18 MnT from Brazil.
Other importers for the month were Essar Steel at 0.17 MnT (up 54% M-o-M) from Canada, and Kamachi Group at 0.11 MnT from South Africa.
Essar steel imported iron ore concentrate from Canada in July.
Imports from Australia increased three-fold in July`18-
In July`18, Australia stood largest exporter of iron ore to India at 1.09 MnT (up by thrice M-o-M), followed by Brazil at 0.18 MnT (up 59% M-o-M) and South Africa at 0.11 MnT (down 76% on monthly basis).
India also witnessed imports from Canada for the month of July`18 at 0.17 MnT.
Country wise Indian Iron Ore Import
| Country | Jul`18 | Jun`18 | M-o-M (%) |
| Australia | 1.09 | 0.36 | 205% |
| Brazil | 0.18 | 0.11 | 59% |
| Canada | 0.17 | - | 100% |
| South Africa | 0.11 | 0.45 | -76% |
| Grand Total | 1.55 | 0.92 | 68% |
Quantity in MnT
Source: SteelMint Research
Provisional data
Krishnapatnam port accounted 66% of Indian Iron ore imports in July`18 -
In July`18, Krishnapatnam port witnessed imports at 1.02 MnT, contributing 66% of total imports for July`18, up by around three folds M-o-M as against 0.36 MnT in last month. Jaigarh port contributed the remaining 34% imports at 0.53 MnT.