Offers for South African Kumba lump (Fe 64%) are in the range of USD 63-65/MT, CFR West Coast of India for shipments to arrive early in Nov’15. Offers for imported lump (Fe 65%+) of Assmang’s mines in South Africa are in the range of USD 64-67/MT, CFR West Coast of India for end Nov’15 deliveries.
An industry participant shared that two vessels containing imported lump of Assmang’s mines were booked which will arrive somewhere in early Dec’15. Out of the two, one is to arrive at Krishnapatnam port and the other one at Kandla port. Apart from these two, no fresh vessels have been booked yet.
Another participant highlighted that a trader is offering imported lump at USD 67/MT, CFR West Coast India which it had booked towards the end of Sept’15. But, it is yet to receive buyers as they seemed to negotiate it with the ready stock available at port which is around USD 63/MT, CFR West Coast India for capesize vessels.
Stock of imported ore piled up at Kandla Port:
A market participant highlighted that there is considerable stock of imported lump lying at Kandla Port. As on 07 Oct’15, about 0.23 MnT iron ore lump was stock piled at Kandla Port.
Spot iron ore lump premium fall by USD 0.025/dry MT unit
Spot iron lump premium has fallen by USD 0.025/dry MT unit and is assessed at USD 0.105/dry MT unit.
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