Care Ratings: Iron Ore Update - H1 FY21
Sunlight catches a freight train carrying iron ore from mine to port as it travels along a rail track. (Photographer: Ian Waldie/Bloomberg)

Care Ratings: Iron Ore Update - H1 FY21

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Care Ratings Research Report

Iron ore exports from India surged 70.3% to 29.2 million tonne during H1 FY21 compared with the corresponding period of FY20.

About 92% of total iron ore exports were directed towards China. 27 million tonnes of iron ore were shipped to China which is the highest level seen since FY12.

Other countries to which India exported iron ore were Japan with an export share at 1.9%, Oman at 1.7%, Malaysia at 1.5% and Indonesia at 1.1%.

Lower domestic production and higher exports have resulted into severe scarcity of iron ore in the domestic market and has sent iron ore and steel prices higher.

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Care Ratings Iron Ore Update - H1FY21.pdf

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