Loading prices...

Register/Sign in
ScrapMonster
Sell Your Junk CarGet an instant quote for your car on ScrapMonster.com
Iron Ore March 19, 2018 12:30:21 PM

Iron Ore Imports Surged 86% in India

Paul Ploumis
ScrapMonster Author
The primary ore supplier to India in November was Australia. The imports from that country totaled 358,190 tons.

Iron Ore Imports Surged 86% in India

SEATTLE (Scrap Monster): According to Ministry of Commerce and Industry in India, the country’s iron ore imports rose marginally during the initial eleven-month period of 2017. The cumulative imports during this period ended just below 5 million tons. Meantime, imports reported tremendous jump during November last year.

The Indian iron ore imports totaled 770,017 tons in November 2017, considerably higher by almost 86% when compared with the imports during the corresponding month a year before. India had imported only 414,579 tons of iron ore in November 2016. The total value of imports more than doubled from $28.68 million in November 2016 to almost $59 million in November last year. The average import prices too have surged higher by nearly 11% from $69.2 per ton to $76.6 per ton over the year.

The primary ore supplier to India in November was Australia. The imports from that country totaled 358,190 tons, accounting for nearly 47% of the total iron ore imports by India during the month. The other key suppliers were Bahrain (184,637 tons), Brazil (154,634 tons) and South Africa (72,514 tons).

The combined imports during the first eleven months of the previous year have increased marginally by 3.0% from 4.769 million tons in 2016 to 4.914 million tons in 2017. Out of this, 628,954 tons were agglomerated iron ore, whereas the balance 4.285 million tons were agglomerated ore. The average import prices have surged higher by 36% over the previous year to $85.7 per ton. Also, the value of imports jumped higher significantly by 40% during the eleven-month period.

The key exporter of iron ore to India during Jan-Nov ’17 was South Africa. The imports from that country totaled 1.893 million tons at an average price of $83.9 per ton. The value of imports from Brazil amounted to $1.457 billion. The other main sources of import were Australia (755,244 tons), Bahrain (429,253 tons) and Oman (291,935 tons).

×

Quick Search

Advanced Search