Iron Ore Import

India's iron ore production rises 4% to 158.4 mn tonnes in Apr-Oct

Iron ore production in the country rose 4.1 per cent to 158.4 million tonnes (MT) in the April-October period of the ongoing fiscal year, the government said on Thursday. As per provisional data, iron ore production was 152.1 MT in the year-ago period. Continued growth in production of iron ore in the current financial year shows the robust demand conditions in the user industry. Coupled with growth in aluminium and copper, these growth trends point towards continued strong economic activity in user sectors such as energy, infrastructure, construction, automotive and machinery. Production of manganese ore rose 11.1 per cent to 2 MT in the April-October period of the ongoing fiscal year from 1.8 MT during the corresponding period last year. Production of bauxite rose 11.3 per cent to 13.8 MT in the April-October period from 12.4 MT in the year-ago period, the mines ministry said in a statement. In the non-ferrous metal sector, primary aluminium production grew 1.2 per cent to 24.4

Iron ore climbs to over 2 week high on prospects of more China stimulus

The benchmark December iron ore on the Singapore Exchange added 1.09% at $105.05 a ton, as of 0711 GMT, also the highest since Oct. 17

NMDC falls 2% on weak Q4 performance; Rs 7.25 dividend announced in FY24

The state-owned company's profit plunged 37.8 per cent to Rs 1,412.7 crore in the March quarter of financial year 2024 (Q4FY24), from Rs 2,271.5 crore in Q4FY23

China's 2024 iron ore imports seen to be around 1.17-1.18 bn metric tons

China's iron ore imports in the first quarter of 2024 totalled 310.13 million tons, up 5.5 per cent from a year earlier, customs data showed

India rejects iron ore miner NMDC's proposal for China exports -sources

China accounts for around 80% of India's overall iron ore shipments. India primarily exports low-grade iron ore - with iron content below 58% and most of India's shipments go to China

Global iron ore production set for modest growth during 2019-2028: Research

Iron ore supply growth woul be primarily driven by India, Brazil where major miner Vale is set to expand output with its new mine

Iron ore imports tumble 90% on inflated prices, slip to 7-year low

In the corresponding period of last fiscal, iron ore imports swelled by 172 per cent

Odisha assures no iron ore supply shock after mines' validity ends in March

The state boasts of the country's largest iron ore output. In the last fiscal year, Odisha churned out 114 mt, contributing more than a half to the nationwide production of 207 mt

Steel minister okays iron ore supply to Andhra for greenfield steel project

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

With mining leases on verge of expiry, higher iron ore imports on cards

In 2015, India embraced competitive auctions as the best long-term approach to clamp down on corruption after scandals over allotments of mines

Slide in iron ore prices to hurt exports from India, further slump seen

After hitting a five-year high of $121 a tonne in July, spot iron ore prices tanked to $93

Iron ore imports zoom 190% to 6.34 mt in Apr-Aug over domestic price hikes

Iron ore import into the country zoomed 190 per cent to 6.34 million tonnes (mt) during April-August, the first five months of this financial year.This data from the Pellet Manufacturers Association of India (PMAI) shows a projection of over 12 mt for the full year. In 2017-18, ore import was 8.6 mt, itself 48 per cent higher than in 2016-17. Import is on an upswing since steel plants on the coast have shown an increasing tendency to import the key ingredient. Importing is cheaper option for such units than buying from the domestic market.A senior executive with a steel company said, "Price hikes (of ore) in the domestic market have been exorbitant in the past three to four months. Importing of ore is viable for operations."Between July and September, prices of iron ore fines in Odisha, the largest producing state, rose 80 per cent; prices of lumps moved up 29 per cent. Government-owned NMDC, the single biggest producer, raised prices twice last month. In the latest one, it raised ...