South African iron ore lump (Fe 64%) import offers declined by $12/t w-o-w to $119/t CNF Kandla on 28 Feb’24 following the sharp drop in spot and futures prices in China. Following the reduction in domestic pellet offers, the inquiries from Indian buyers remained less, however, buyers expected more drop to book imported lumps. The benchmark Fe 62% fines index decreased by $4/t d-o-d to $118/t CFR China on 27 Feb.
