India's iron ore imports set to be negligible, despite shortages: sources

摘要

The tight iron ore supply situation in the Indian domestic market, arising out of exports of low-grade iron ore in previous quarters, is unlikely to give a huge boost to imports into the country, according to several market sources as well as government data showed S&P Global Platts. Given that international prices of iron ore have remained strong for the most part this year, alongside a drop in crude steel production, India's primary mills -- operating on an integrated route -- have largely relied on purchases from local miner NMDC as well as ramping up existing captive mines to secure suppliers. Imports, therefore, have been much lower compared with the previous year, at around 21,000 mt during April to August, primarily 65% Fe grade iron ore.