South Africa’s iron ore export shipments in Apr’21 stood at 4.16 mn t, against 5.27 mn t in Mar’21, according to bulk vessel line-up data maintained with SteelMint.
Nil export shipments to India
Iron ore shipments to India remained nil for Apr’21. Imports were last witnessed at 144,292 tonnes (t) in Dec’20.
The current assessment for imported South African lump (Fe 64%) assessed as on 7 May’21 at $245/t, CNF Kandla. However, with rising global iron ore prices, imported lump offers continue to remain unviable at current levels and Indian mills continue to prefer domestic ore and pellets due to cost-effectiveness. The monthly average global iron ore fines (Fe 62%) index increased to $178.5/t, CFR China in Apr’21 against $168/t, CFR China in Mar’20. The prices touched $233.1/t, CNF China assessed 12 May’21. The prices are highest since CY’09, as per data maintained with SteelMint.
Shipments to China decrease40% in Apr’21
South Africa’s iron ore export shipments to China for Apr’21 were recorded at 1.84 mn t, as compared to 3.08 mn t in Mar’21. Korea was the second-largest importer at 0.59 mn t followed by Germany at 0.57 mn t.
South African iron ore export shipments line-up
Qty in t
Source: SteelMint, Custom
Provisional data
Outlook:With high global iron ore fines prices, Indian imports of South African lumps continue to remain unviable. Rising global iron ore prices, pushed upby increased Chinese demand, are expected to keep Indian imports of South African lumps on the lower side.
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