April 25, 2017 10:30:58 AM
NEW DELHI (Scrap Monster): The Ministry of Commerce and Industry of India has published the details of country’s exports and imports of iron ore during the month of January this year. The exports skyrocketed by 340% over the previous year. On the other hand, iron ore imports by the country declined by 22%.
The country’s iron ore imports during January this year totaled 274,309 tons, dropping significantly by 22.2% when compared with the imports during the same month a year before. The imports had totaled 352,462 tons during January 2016. The average price of import witnessed sharp rise of 37.1% to $78.1 per ton when matched with the average import price of $57.0 per ton during January last year. Also, the total value of imports has increased by 6.7% from $20.081 million to $21.426 million.
The largest exporter of iron ore to India during the month was South Africa. The imports of South African iron ore by the country totaled 264,437 tons, accounting for over 96% of the total monthly imports. The imports from South Africa averaged at $76.7 per ton. The value of imports totaled $20.276 million. The other key exporters of iron ore to India during the month was Bahrain (9,860 tons).
The agglomerated iron ore imports during Jan ’17 totaled 9,860 tons. The imports averaged at $86 per ton and were valued at $1.140 million. The non-agglomerated iron ore imports by the country totaled 264,449 tons, significantly lower by 25% when matched with the imports of 352,462 tons in January last year. The key exporter of non-agglomerated iron ore to India was South Africa, which accounted for 264,437 tons of the imports. The imports from South Africa averaged at $76.7 per ton and were valued at $20.276 million.
India’s iron ore exports during Jan ’17 totaled 3.534 million tons. The export volumes skyrocketed by 340.2% over the previous year. The exports had totaled only 802,941 tons during the corresponding month last year. The export prices more than doubled from $21.4 per ton in Jan ’16 to $50.7 per ton in Jan ’17. The value of exports jumped multi-folds from $17.147 million a year before to $179.164 million in the first month of the current year.
The largest importer of Indian iron ore during the month was China. The exports to China totaled 3.467 million tons, constituting bulk of exports by the country. The exports to the country were valued at $176.461 million at an average price of $50.9 per ton. The other key importers were Japan (65,524 tons), Nepal (1,048 tons) and Oman (494 tons).
The exports of non-agglomerated iron ore jumped higher significantly by 234.5% over the previous year from 802,941 tons to 2,685,433 tons in Jan ‘17. The average price of export was up by 86% from $21.4 per ton to $39.6 per ton. The primary importers of non-agglomerated iron ore from India were China (2.619 million tons), Japan (65,524 tons) and Nepal (1,048 tons).
Meantime, agglomerated ore exports totaled 848,723 tons during the month. The total value of exports amounted to $72.700 million at an average price of $85.7 per ton. The key importers were China (848,229 tons) and Oman (494 tons). The value of agglomerated ore exports to China totaled $72.657 million. The export prices averaged at $85.7 per ton. The value of export and the average export price to Oman stood at $43,000 and $87 per ton respectively during the month.