Gujarat (west India) based steel mills have collectively booked a lump import vessel from South Africa last week.
According to market sources report to SteelMint, assessment for South African lump to India is heard at around USD 114-115/MT, CNF Kandla, up as against USD 110/MT, CFR Kandla last month. The import vessel bookings of South African lump by Indian mills remains on lower side amidst rise in prices. The Saldanha port has resumed operations at normal pace after being disrupted a month before, however inquiries for lumps remained weak amidst high offers.
According to market sources report to SteelMint, Gujarat based steel mills have collectively booked a vessel containing around 150,000 MT for April shipment at monthly average index basis. Also another west based steelmaker has imported vessel for March.
Drop in spot lump premium
Spot lump premium witnessed drop to USD 0.3365/MT, CFR China as against USD 3660/DMTU a week ago. The lump premium has dropped amidst reduced sintering controls in China due to weather improvement.
India iron ore imports from South Africa
Indian iron ore imports from South Africa witnessed significant rise to 160,400 MT in Feb’19 as against 54,500 MT in Jan’19.
Indian iron ore import vessels in Mar’19
| Shipper | Unload Port | Vessel Name | Quantity | Load Country |
| Goa Sponge | Mormugao | Bbg Forever | 60,500 | South Africa |
| Varrsana Ispat | Kandla | Aquahope | 174,058 | South Africa |
Qty in MT
Provisional Data, updated till 26th Mar’19
Source: SteelMint Stats, Customs
Domestic pellet offers in western India remain firm
West India based pellet maker – Jindal SAW has kept offers firm on weekly basis at INR 8,850/MT delivered Kandla.
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