India’s iron ore export shipments witnessed a significant fall in the absence of firm Chinese buying interest. Export shipments stood at 0.45 million tonnes (mn t) in Aug’21 as against 2.05 mn t in Jul’21, according to the vessel line-up data maintained with SteelMint. Shipments have fallen to over three-year lows since 0.3 mn t seen in Feb’19.
Factors behind decline in Indian iron ore exports
Subdued Chinese demand on steel production cuts:As
per data maintained with SteelMint, Jul’21 saw the first y-o-y decline
in China’s crude steel production, which was slightly higher than the
level seen in the same period in 2019, indicating that steel producers