After witnessing a fall since last 4 weeks, spot iron lump premium has edged up by 26% in this week (i.e. week 46).
Spot iron lump premium which was at USD 0.0475/dry MT unit last week has moved up by USD 0.0125/dry MT unit this week. In week 46, spot iron lump premium for Fe 62% is assessed at USD 0.06/dry MT unit.
Lump premium hit its lowest level in FY16 last week and stood at USD 0.0475/dry MT unit compared to USD 0.21-0.215/dry MT unit in the same period last year.
An uptrend is usually observed in lump premium during winter season but owing to larger inventories of lump at Chinese major ports, lump premium has been witnessing a downward movement in last few weeks. As per sources stock of around 13 MnT iron ore lump is still lying at Chinese major ports.
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