Imported iron ore lump (Fe 65%) offers of South African iron ore miner-Assmang are at USD 54-56/MT, CIF Kandla for shipments to arrive in early Jan’15.
Vessel freight from South Africa to India is around USD 5-6/MT for capesize vessels and around USD 10/MT for supramax vessels.
“With global iron ore prices hitting record lows, inclination towards imported ore has increased. Kandla is likely to remain a good market for imported lump in the coming term. Offers of imported lump are competitive against domestic pellet offers making the former a preference”, highlighted a market participant.
Jindal SAW pellet prices are at INR 4,500/MT delivered Kandla for Fe 63% pellets. It is anticipated that western India pellet prices might witness reduction over cheaper lump offers.
Ready stock offers of Kumba iron ore lump (Fe 64%) are at USD 54-55/MT, CFR Kandla. However it was heard through market participants that an importer has sold some quantity of the imported lump at USD 53/MT, CFR Kandla to a Gujarat based steel plant.
Iron ore imports to India – Vessel Updates
- Iron ore import vessel of Kamachi group is at berth at Krishnapatnam Port. The company imported 54,100 MT Assmang lump from South Africa via vessel named “Yasa Emirhan”
- Iron ore (lump) import vessel named “Bulk Malaysia” is expected to reach Kandla Port in 1st week of Dec’15. The vessel has been imported by Gallant Metal, Varssana Ispat, Welspun and Monosteel from South Africa’s Assmang mines
- A vessel containing South African lump of around 70,000 MT was heard to be booked by a Goa based importer at USD 52-53/MT, CFR India. The vessel is expected to arrive at Indian port on end of Dec’15
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