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Iron ore insight february

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Information about Iron ore insight february
Business & Mgmt

Published on February 27, 2014

Author: steelmint

Source: slideshare.net

Description

Iron ore insight of this month containing current iron ore market prices for major cities in India.
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Steel int TM Steeling is Basic SteelMint Iron Ore INSIGHT 10 February, 2014 Photo Source: www.steel-360.com/FotoMine.php

Steel int TM Steeling is Basic SteelMint Iron Ore INSIGHT 1 India Exported 1.1 MnT Iron Pellet in Apr-Dec 2013 Indian Iron Pellet export market opened up when domestic prices touched an all time low at INR 6,100/MT (Ex-work Barbil) on 22 July, 2013. Exporters received a better realization from overseas trades as Rupee depreciated against USD and Chinese Iron ore prices were high. Jindal Steel was the biggest exporter and exported 0.47 MnT followed by Essar & Ardent Companies's Iron Pellet Export in Apr-Dec, 2013 Paradip Port in East Coast exported maximum quantity of 0.6 MnT Company Exported Qty Jindal Steel 307,940 Ardent 5% export duty on Pellets imposed by Indian Government on 27 Jan, 2014 has lowered realizations by INR 500/MT 470,303 Essar Steel China was the largest consumer of Indian Pellets 121,850 BRPL 98,000 Ne ncon 73,000 Arya 35,000 Total 1,106,093 Qty in MT Provisional Data Iron Pellet Export from various Indian Ports in Apr-Dec, 2013 Month Port Shipper Qty Total Qty (Month Wise) Des na on - Apr - - - - May - - - - - Jun Vizag Essar 39,100 39,100 Vietnam Jul Vizag Essar 65,100 65,100 China Aug Paradip Jindal 48,000 - Oman Aug Paradip Jindal 53,000 101,000 China Sep Paradip Jindal 50,000 - China Sep Paradip Jindal 51,803 101,803 China Oct Gangavaram Jindal 54,000 - China Oct Gangavaram Jindal 49,000 - China Oct Haldia Ne ncon 22,500 - China Oct Paradip Ardent 43,200 - China Oct Paradip BRPL 50,000 218,700 China Nov Paradip Jindal 7,500 - Oman Nov Paradip Essar 53,900 - China Nov Paradip Arya 35,000 - China Nov Paradip BRPL 48,000 - China Nov Ardent 43,650 - China Nov Paradip Gangavaram - China Haldia Jindal Ne ncon 53,000 Nov 22,500 - China Nov Vizag Essar 42,240 305,790 China Dec Gangavaram Jindal 53,000 - China Dec Paradip Essar 54,000 - China Dec Haldia Ne ncon 28,000 - China Dec Paradip Essar 53,600 - China Dec Gangavaram Jindal 51,000 - China Dec Paradip Ardent 35,000 274,600 China Grand Total Qty in MT Provisional Data 1,106,093 1,106,093 Source: SteelMint Source: SteelMint

Steel int TM Steeling is Basic SteelMint Iron Ore INSIGHT 2 Prices as on 08 Feb, 2014 Par culars Grade/Fe Size Prices (INR/MT) M-o-M change Odisha: Rungta mines (loaded to wagon, including Royalty) 63 5-18 mm 6,800 0 NMDC (Basic Prices, Royalty & Taxes Extra) Iron Ore Fines 65 6-40 mm 4,500 0 Iron Ore Lumps Domes c (Ex mines Odisha, including Royalty) 63 2,350 0 63.5/63 122 13 Odisha (Loaded to wagons, Basic Prices) 63 7,000 600 Bellary (Basic Prices) 63 60 7,900 7,200 0 0 Steel 24,000 500 Export (CNF China in USD/MT) Iron Pellet Pig Iron Cu ack (Basic Prices) Sponge Iron Raipur (Basic Prices) 80 FeM 21,600 1,550 Source: SteelMint Miners in Odisha kept Iron ore prices unchanged for Feburary 2014 as state government’s restriction of only 50% Iron ore sales is allowed to outside states has offset chances of price hike. Odisha Indian Iron Ore Prices (INR/MT) in Feb'14 Miners/E-auc on State Grade/Fe 5-18 mm Grade/Fe 10-30 mm Grade/Fe Fines 6,800 63 6,270 63 2,650 63 6,025 63 2,675 63 2,620 Rungta Odisha 63 Essel Odisha 63 6,775 Serajuddin Odisha 63 5,620 Indrani Patnaik Odisha 63 5,200 61 4,500 63 2,200 KJS Ahluwalia* Odisha 63 5,450 61 4,300 63 2,350 KN Ram Odisha 62 5,600 62 2,450 Jharkhand 60-62 4,900 Singhbhum Minerals 60-62 4500 All Prices loaded to wagons; including Royalty | *Prices are Ex-mines: including Royalty | Prices are Ex-Jharkhand; including Royalty Grade/Fe NMDC 65 Cha sgarh 6-40 mm Grade/Fe 10-150 mm Grade/Fe Fines 4,500 64 3,950 64 2,910 Grade/Fe Lumps Grade/Fe Fines Grade/Fe 10-40 mm 67 5,190 Grade/Fe ROM Basic Prices including royalty 10% E-auc on (Jan) Karnataka 67 3,545 63 3,849 60 2,661 E-auc on (Jan) Karnataka 63 3,005 62.5 3,965 58 1,833 Royalty 10%, FDT 12% & VAT 5.5% Extra Chhattisgarh Source: SteelMint NMDC hikes Iron ore fines prices by INR 100/MT over good demand. Offers for lumps remain unchanged. Production and sales improved in January, at 3 MnT and 2.9 MnT respectively.

Steel int TM Steeling is Basic SteelMint Iron Ore INSIGHT 3 Karnataka Karnataka Iron Ore E-auction in Jan'14 Mines 984,000 3,901,000 3,705,000 Total JSW was the biggest buyer and purchased 2.5 MnT Iron ore 1,100,000 Other Mines & Stockyards Iron ore sales increased from 2.1 MnT in Dec’13 to 4.7 MnT in Jan’14 Bid Qty NMDC 4.7 MnT Iron Ore sold in Jan 2014 in e-auctions 5,001,000 Qty in MT Alloted Qty 4,689,000 Source: SteelMint NMDC sold 1 MnT Iron ore and other mines sold 3.7 MnT NMDC's Donimalai & Kumarswamy Mines In January 2014, average fines prices stood at INR 2,661/MT and lumps at INR 2,635/MT (basic, Fe 60) Material type Fines 556,000 460,000 Lumps Sesa Sterlite set higher base price at INR 4,000/MT (basic) for Fe 58 fines on 31 Jan, 2014 Bid Qty 544,000 524,000 Qty in MT Alloted Qty Source: SteelMint In Nov, 2013, Supreme Court allowed e-auction of 15 MnT Iron ore lying at jetty and stock point. Goa government invited application from prospective bidders on 14 Jan, 2014; only qualifying bidders can participate. Goa Iron Ore E-auction on 17 Feb, 2014 About 5,70,000 MT (Fe 47-56/50) Iron ore (fines & lumps) would be auctioned in the first phase, which belongs mainly to Sesa Mining and Sesa Sterlite, VM Salhgaocar, Timblo Enterprises, SFI, Chowgule and MSPL. Iron ore could be utilized for sale, domestic consumption or can be exported. Transportation of ore would begin within 30 days of auction. Singbhum Minerals Company, operated by Thriveni Earth Movers restarted Iron ore mining operations in February, 2014. The mines have an Environment Clearance (EC) of 0.4 MnT pa. Jharkhand Iron ore export drops from 1.3 MnT in Dec’13 to 1 MnT ( India Exported 1 MnT Iron Ore in Jan’14 27%) in Jan’14 Demand from China weakened because of New Year Holidays from 31 Jan, 2013 to 05 Feb, 2014 Rungta Mines was the largest exporter and exported 163,000 MT Iron ore Paradip port exported 0.5 MnT; by 10.8% M-o-M Iron Ore Export from various Indian Ports in Jan 2014 Shipper Paradip Haldia Vizag Dhamra Gangavaram Redi Grand Total Rungta Mines Bagadiya Brothers 56,000 72,600 20,000 - 33,000 - 72,582 54,000 - - 163,000 145,182 Kashvi Power 111,439 - - - - - 111,439 SM Niryat 109,185 - - - - - 109,185 Kalinga Allieds 80,700 - - - - - 80,700 MMTC - - 78,210 - - - 78,210 Royal Lines - - 58,400 - - - 58,400 Samruddha - - - - - 56,500 56,500 LG Minerals Essel Mining 51,492 - 16,200 22,300 - - - 51,492 38,500 Chamong Tea - 20,710 - - - - 20,710 20,000 20,000 - - - - - 20,000 20,000 Lords Blue Maa Samelaswari Sparsh Baldev Grand Total Provisional Data Qty in MT - - 19,000 - - - 19,000 501,416 76,910 210,910 72,582 54,000 108,100 1,023,918 Source: SteelMint

Steel int TM Steeling is Basic SteelMint Iron Ore INSIGHT 4 Vessel Freight as on 08 Feb, 2014 with Previous Comparisons (Week 1) Vessel Type Freight (USD/MT) 3 Months (Nov) 6 Months (Aug) India East Coast - China Supramax 15.0 14.5 10.8 Brazil- China Capesize 19.8 22.1 20.3 South Africa -China Panamax 21.1 20.1 18.5 Route Source: SteelMint Prices in USD/MT 139 137 136 134 134 136 133 Prices fall sharply owing to less demand/stock ing before Lunar New Year Holidays 129 129 124 Aug-13 Sep-13 Oct-13 Source: SteelMint Trade Wise Nov-13 Dec-13 Monthly Average Prices of Sponge Iron in Raipur Basic Prices in INR/MT Monthly Average Prices of 63.5/63 Iron ore Fines, CNF China Market was vola le owing to subdued demand of Finished steel products 21,000 20,600 20,000 19,000 20,400 20,150 20,200 20,300 19,000 18,000 Jan-14 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Source: SteelMint Pellet prices drop to INR 7,000-7100/MT (ex works Barbil) because of weak domestic demand and falling margins from exports KIOCL retains domestic Pellet prices at INR 8,400/MT (basic) for Feburary 2014 owing to high Iron ore prices; Jindal Saw (Rajasthan) maintains offers at INR 8,800-8,900/MT (delivered) On 29 Jan, 2014, Essar Steel shipped 40,000 MT Pellets to Kamachi Steel (Chennai) at INR 7,500/MT FOB Vizag Port On 20 Jan, 2014, Essar Steel closed 21,340 MT Fe 64 & DR grade Pellet export deal at USD 168/MT FoB with UK based trader; material was shipped from Paradip Port to Saudi Arabia REPORT BY CONTACT DETAILS Seema Goenka Raipur: #301, Jeevan Parisar, Rajeev Nagar Behind Crystal Arcade Raipur (C.G) - 492 007 India Tel: +91 771 2284888 Analyst Email: seema@steelmint.com Mob: +91 9575100530 Alok Singh Thakur Kolkata: 5th Floor, Vishvakarma Building, 86, Topsia Road, South-West Block Kolkata (W.B) - 700 046, India Tel: +91 33 22852063 Associate-Research Email: info@steelmint.com | Web: www.steelmint.com SteelMint Iron Ore INSIGHT 10 February, 2014

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