Iron Ore Exporting Companies-Port: Rungta Mines Ltd, Paradip Port tops the list

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By Anurjay Dhal

BHUBANESWAR: Jharkhand’s Chaibasa based Rungta Mines Ltd Group, which has major mining operations in Odisha and Paradip Port have topped the list of Iron Ore Exporting Companies and Port.

Compared to last year (CY18), this year, Odisha’s contribution to India’s total iron ore production has increased significantly. In CY19, Rungta Mines Ltd secured the top spot by exporting 4.17 MnT of iron ore. Compared to CY18 the company’s iron ore exports increased 81% in CY19.

Not very far behind, SM Niryat is in second spot with exports of 3.98 MnT followed by Brahmani River Pellets Limited (BRPL) at 3.04 MnT.

Paradip remained the largest iron ore exporting port in CY19. This year, Paradip Port’s iron ore exports increased 110% to around 13.28 MnT against CY18’s 6.32 MnT. Dhamra Port is in second spot at 4.16 MnT and Vishakhapatnam is third, reporting exports of around 3.77 MnT.

In CY19, average annual prices of Odisha’s iron ore lumps of Fe 63% (5-18mm) were reported at INR 3,971/MT. The highest price was recorded in the second half of February at INR 4,600/MT, while the lowest price was observed in the first half of October at INR 3,500/MT.

India’s largest private merchant miner, Jharkhand-Odisha based Rungta Mines’ production grew 17.1% compared to CY18, at 28 MnT in CY19. Production of other major miners, including Serajuddin Mines and Essel Mining & Industries Ltd of Aditya Birla Group, also jumped significantly in CY19. Essel Mining & Industries increased its production by more than two-fold to around 11 MnT in CY19 while Serajuddin Mines’ production increased by around 55.6% to 13.4 MnT. Captive miner Tata Steel’s production was up 10.3% to 14.4 MnT in CY19.

Serajuddin Mines and Essel Mining & Industries, also jumped significantly in CY19. Essel Mining & Industries increased its production by more than two-fold to around 11 MnT in CY19 while Serajuddin Mines’ production increased by around 55.6% to 13.4 MnT. Captive miner Tata Steel’s production was up 10.3% to 14.4 MnT in CY19.

China was the top buyer of Indian iron ore. China continues to remain the largest buyer of Indian iron ore as well as of pellets. In CY19, India’s iron ore & pellet exports to China increased by 64% to around 24.79 MnT in CY19 against only 15.11 MnT in CY18.

China alone accounted for a share of 77% in total Indian iron ore exports. After China, Japan is the second-largest buyer of Indian iron ore with a share of around 5% followed by South Korea with 3% share.

The average annual price of Odisha’s iron ore fines of Fe 63% were reported at INR 1,947/MT. Prices peaked at INR 2,300/MT for one week during mid-February, while the lowest price was observed during the whole of October and the first half of November at INR 1,750/MT.

The average annual price of Karnataka’s iron ore fines of Fe 60% were reported at INR 2,045/MT while Fe 63% lumps were reported at INR 2,934/MT.

For Chhattisgarh’s iron ore fines and lumps, the highest prices were recorded in June and July. The average annual prices of Chhattisgarh iron ore fines of Fe 64% were reported at INR 2,638/MT. However, the average annual price of iron ore lumps (6-40mm) of Fe 65% were at INR 2,885/MT.

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