Driven by robust steel demand from China, Sesa God Ltd, the biggest iron ore exporter in India, has strong performance on its 4Q financial report last year. Its net income so far is better than the same period of last year.

According to financial report, its net income has reached about US$273 million till the end of March, up by 121.8 percent from a year ago.

The company mostly focuses its business on Chinese and Japanese markets. Therefore, Sesa God Ltd’s revenue is deeply affected by Chinese steel market, which iron ore import volume has climbed to 628 million tons with an increase of 42 percent from last year.

On the other hand, the spot price of iron ore released from Tianjin port, China in the end of March has soared by 87.5 percent to US$131.6/ton in the past three months, based on Steel Index. However, the price was only US$70.2/ton last March.