Iron ore exports via Vizag port rise mom in April - Mjunction

IRON ORE & METALLIC’SContd. from previous PgHe said the amount of net profit earned by NMDC during last three years andthe royalty paid to the state governments including Chhattisgarh are given below:India’s iron ore exportto China falls sharplyin FY12ISMWYearNet profit (in Rs crore)2008-09 4372.382009-10 3447.262010-11 6499.22The minister said the net profit of the NMDC is after taking into accountappropriations, provisions, taxation, etc., hence net profit earned from differentstates cannot be quantified as net profit is calculated for the company as a whole.Royalty paid by iron ore projects (cash basis)(in Rs crore)Year Chhattisgarh Karnataka2008-09 48.18 11.132009-10 261.17 50.362010-11 751.59 87.952011-12(till Dec. 2011) 636.27 83.74India’s export of iron ore to China in 2011-12 (up to February) fell sharply,while export of finished steel increased significantly, a provisional documentof the steel ministry said.India exported a total of 52.47 million tons (mt) of iron ore in 2011-12(April-February) to China, which was 41.52% lower than the export of 89.72mt in 2010-11 (April-March), the document said.The export of finished steel on the other hand jumped to 0.067 mt in 2011-12(April-March) from a low of 0.008 mt in 2010-11 (April-March), it said.Following is the detail of iron ore and finished steel export to China from2007-08 to 2011-12 (in million tons):Year Export of Iron Ore to China Export of Finished steel to China2007-08 91.98 0.0172008-09 97.84 0.0292009-10 109.3 0.0452010-11 89.72 0.0082011-12 (Provisional) 52.47 (up to Feb, 2012) 0.067Iron ore exports viaVizag port rise m-o-min AprilISMWIron ore handling atNew Mangalore portfalls m-o-m in AprilISMWIron ore exports out of Vizag port rose by almost 13% to 316,342 tons in Aprilas compared to 279,999 tons in March, according to information availablewith ISMW, as on May 11. During both the months under consideration Chinawas sole country to which iron ore fines was exported out of the port.The average price of fines in April having a ferrous content within a range of52% to 63.5% stood at Rs 5293/ton while in March average price of fines withina range of 55% to 63.5% stood at around Rs 4987/ton.New Mangalore port’s iron ore handling stood at 224,326 tons in April 2012,sharply down by 24.93% from 298,825tons in March, a senior official ofthe port told ISMW on May 10.However, iron ore handling in April 2011 stood at nil, the official added.The port has handled a total of 1,331,852 tons of iron ore during 2011-12,against 2,671,105 tons in 2010-11.India Steel Market Watch 42May 23, 2012