India’s iron ore and pellet exports rose sharply in November, climbing 27.2 percent month-on-month to 2.76 million metric tons (MT), supported by a rise in overseas buying interest. The volumes comprised 2.51 million MT of fines and lumps (up from 1.96 million MT) and 250,000 MT of pellets (210,000 MT last month).
On a year-on-year basis, exports surged 51.6 percent, while cumulative shipments for 11M CY25 reached 37.75 million MT, up 5 percent compared with the same period last year
The rise was driven by several factors coming together. A shift in seaborne benchmark trades from Fe 62 percent to Fe 61 percent made Indian material more competitive, while firmer prices and steady overseas inquiries helped keep trade active. Miners led export volumes during the month, often securing premiums for single-mine cargoes. November also saw some movement in lump cargoes, mainly shipped by exporters from the West Coast.
This is the highest export figure so far in this financial year; earlier it was last seen in March 2025 with 3.13 million MT. China remained the largest importer with 1.79 million MT, followed by Malaysia with 110,000 MT.
Major exporters Rungta Mines and the Vedanta Group were the leading exporters in November, and their export volumes increased significantly this month. The export tender for fines received a positive response, despite the narrowed discount for low-grade fines in the sea market.
