Indian iron ore export fell by 43.5 percent

The export of the iron ore of India from April to October 2013 amounted to 8.43 million tons against 14.910 million tons for the same period last year, decreasing by 43.5 percent. The total number of iron ore exports over this financial year will probably be in the range of up to 14 million tons, which indicates a fall by 25 percent compared to the previous year.

In 2012, India exported 18.66 million tons. Industry analysts believe that the suspension of export from Goa and Karnatak has largely contributed to a sharp decrease in the export of iron ore. While the Supreme Court allowed the resumption of production in Karnatak, it is still limited. APEX The court banned the production and export of iron ore from the Goa since October 2012, which is the main factor in national exports.

Prakash Duvuri, senior Oreteam studies, said that “Goa and Karnataka are completely absent in the export market this year. In addition, there is no possibility of resumption of Goa export in the near future. We expect another 4-5 million tons of export in the remaining months of the current financial. This means that the total export from India will hardly reach the level of past years.”

He said that in general, the production of iron ore this year will amount to 130-135 million tons, and the export volume of 14 million tons, which is 10.5 percent of the total production. Because, Goa is still out of business, and carnatak mines resume work very slowly. The only opportunity is Odisha, which makes up the lion's share in the total volume of production this year.