South African iron ore lump (Fe 64%) imported offers dropped by $3/t w-o-w to $116/t CNF Kandla on 20 Mar’24 following the lower buying interest and downward global prices. As per sources, buyers from India may book material at this level as current hedging is quite feasible for them. The benchmark Fe 62% fines index decreased by $2/t w-o-w to $108/t CFR China yesterday.
