Singapore (Platts)--23Jan2013/454 am EST/954 GMT
India's iron ore exports plunged 62% year on year to 15.05 million mt during April-November, provisional data compiled by the Federation of Indian Mineral Industries showed. Exports in November totaled 339,000 mt, down about 92% from 4.66 million mt India exported during the same period in 2011. This comprised export shipments only from ports on the east coast: 92,000 mt from Haldia in West Bengal, 84,000 mt from Paradip in Orissa, and 163,000 mt from Visakhapatnam in Andhra Pradesh. Shipments from India's west coast fell chiefly due to the ban on mining in Goa since September 2012. Ore exports from the Goan ports of Mormugao and Panaji had topped 5 million mt in May, but witnessed a seasonal decline to below 1 million mt/month during the July-August monsoon months, and dwindled to nil from September. Article continues below...Request a free trial of: Steel Markets DailySteel Markets Daily provides transparent daily and weekly assessments of iron ore, coking coal, coke, ferrous scrap and ferroalloys prices, plus insightful analysis and commentary on the day's market activities.
India's iron ore exports plunged 62% year on year to 15.05 million mt during April-November, provisional data compiled by the Federation of Indian Mineral Industries showed. Exports in November totaled 339,000 mt, down about 92% from 4.66 million mt India exported during the same period in 2011. This comprised export shipments only from ports on the east coast: 92,000 mt from Haldia in West Bengal, 84,000 mt from Paradip in Orissa, and 163,000 mt from Visakhapatnam in Andhra Pradesh. Shipments from India's west coast fell chiefly due to the ban on mining in Goa since September 2012. Ore exports from the Goan ports of Mormugao and Panaji had topped 5 million mt in May, but witnessed a seasonal decline to below 1 million mt/month during the July-August monsoon months, and dwindled to nil from September.
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Steel Markets Daily provides transparent daily and weekly assessments of iron ore, coking coal, coke, ferrous scrap and ferroalloys prices, plus insightful analysis and commentary on the day's market activities.
Karnataka had banned ore exports since July 2010, and although this restriction was later withdrawn, a ban on mining has been in effect since August 2011. Market sources said Wednesday that iron ore exports from India seemed unlikely to rise much from the current 15 million mt in fiscal 2012-2013 ending March 31. "The scenario [with mining bans in Goa and Karnataka] is unlikely to change this quarter," a Singapore-based analyst said. He said he expected India's ore export volumes to remain below 1 million mt/month during January-March. "We may not even reach 20 million mt [in the this fiscal year]," he added. An export volume of 20 million mt this fiscal would still represent a 68% fall from the 61.8 million mt exported during fiscal 2011-2012. Ore exports had totaled 97.66 million mt during the 2010-2011 fiscal year, data from state-owned trader MMTC sowed.--Anitha Krishnan, anitha_krishnan@platts.com--Edited by E Shailaja Nair, shailaja_nair@platts.com
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