Indian iron ore exports spur

On account of robust demand from China, India’s overall pellet exports were at 12.86 mt in 2019 compared with 8.42 mt in 2018. India’s exports to China gained by over 51% to 9.83 mt in 2019 compared with 6.5 mt in 2018. Sintering restrictions in China owing to an accident at Vale’s Feijao iron ore mine in Brazil on 25 January 2019 led to the rising demand for direct-charge material such as lump and pellet from India.

 This development has led to other nations like Oman, South Korea, Turkey and Malaysia to import from India. India’s exports of iron ore fines and lump increased by over 86% in 2019 to 18.35mt from 9.86mt in 2018, while China’s import of Indian ores more than doubled to 15.75mt from 7.67mt in 2018. Japan and South Korea have signed government contracts with India for the supply of state-controlled NMDC’s high-grade fines and lump.