Steel Exchange India to Import South African Lump for the First Time

Steel Exchange India, an Andhra Pradesh based steel maker is all set to bring its first iron ore import vessel to India in Feb’16. Steel Exchange India has an integrated steel plant with an installed capacity of 0.25 MnT pa.

The steel makers’ iron ore import vessel carrying 80,000 MT lump is expected to arrive at Indian port in Feb’16. As per data maintained with SteelMint, this is steelmakers’ first iron ore import vessel.

The iron ore import vessel named “Flag Evi” carrying 80,000 MT Assmang lump is expected to reach Gangavaram Port on 8 Feb’16. As per a market participant, the vessel was booked on spot index basis.

Monthly average spot iron ore fines (Fe 62%) index stood at USD 41.1/MT, CFR China in Jan’16 (till 27 Jan’16). Since beginning of Jan’16, spot iron lump premium has moved up from USD 0.0625/dry MT, CFR China to USD 0.085/dry MT unit, CFR China.

As per data recorded by SteelMint as on 27 Jan’16 there are three iron ore import vessels lined up for Feb’16. As per a source there is one more vessel carrying 90,000 MT Assmang lump likely to arrive at Krishnapatnam Port around 20 Feb’16.

List of expected iron ore import vessels to India

Qty in MT
Updated till data received on 27 Jan’16
N/A: Not Available
Provisional data
Source: SteelMint Stats, Customs