Iron Ore Trade

Indian iron ore exports touched 32.2 million metric tons during the first nine months of the current fiscal year that began in April 2023 - worth $2.7 billion - from 9.5 million tons a year ago

"Any reduction in the average sale price of iron ore through unscrupulous means will impact the revenue accruing to the govt on account of auction premium, royalty," the report said citing govt note

Officials peg FY23 freight between 1500-1550 mt

Moreover, the charge for booking an entire rake, or goods train, has been revised to Rs 1,00,000 from the earlier Rs 50,000

The state planner and market regulator said in a statement that they had warned iron ore information providers to ensure the accuracy of their release and should not fabricate or drive up prices

Dalian, SGX iron ore benchmarks sink to 4-week low; Tangshan restrictions dim iron ore demand outlook

JSW Steel, AM/NS hold the key to iron ore supply woes

The domestic secondary steel industry contributes nearly 55 per cent to the total production of the alloy in the country

An unexpected surge in Chinese demand has sent global iron ore prices to a six-and-a-half-year high but export restrictions prevent Indian companies from taking advantage

Firm say the move has given a lot of relief to steel companies, especially sponge iron-based firms in Chhattisgarh

Recovery in domestic iron ore prices would be propelled by demand uptick as steel makers are expected to ramp up capacity utilisation with concerns easing on the Covid-19 pandemic

Cuts iron ore prices for second straight month in May

Analysts believe that strict quarantine measures to enforce lockdown will lead to demand erosion even though the supply side is facing relatively lower disruptions

NMDC to soon sign an MoU with Andhra govt for ore linkage; steel minister Pradhan hints at huge petroleum investments in state, say players want to park as much as Rs 2 trn in the east coast

At a pre-bid conference convened by the state steel & mines department, more than 50 companies turned up

Lower-grade iron ore fines are piling up at mine heads with no demand in the domestic market

The miners are not able to sell the inventory in the state or domestic market since buyers prefer imported iron ore as they feel it is better on quality

The other countries from which India imports iron ore and its shares are South Africa (19 per cent), Brazil (15 per cent) and Bahrain (5 per cent)

FIMI estimates that the mining industry, including government entities NMDC and MML, will not be able to produce or sell up to the permissible capacity given the pile-up in stock

The forecast, however, is bullish for iron ore imports through the October-March period buoyed by firm domestic demand for the ore