Vessel Updates on Iron Ore Import to India

SteelMint had earlier reported that JSW Steel is likely to import three iron ore vessels in Mar’16. As per customs data tracked by SteelMint, there are four vessels of JSW Steel in pipeline to arrive by mid of Apr’16. However a market source shared that there is one more import vessel of Assmang fines to arrive in Mar’16.

Five iron ore import vessels of JSW Steel lined up-

Provisional data
Updated till data received on 26 Feb’16
Source: SteelMint Research, Customs

JSW Steel is currently seen importing iron ore from following sources:

Carajas iron ore mine, Brazil– Carajas iron ore mine located in northern Brazil is fully owned by Vale. Currently prices of Carajas fines Fe 65% are USD 52.3/MT, CFR Tianjin Port China.

Pellet feed from Minas-Rio, Brazil- The Minas-Rio iron ore mining project situated in south-eastern Brazil is owned by Anglo American. Prices of concentrate (Fe 66%) are currently at USD 54.3/MT, CFR Qingdao Port, China.

Fines from Assmang, South Africa- The Assmang iron ore division situated in northern province of South Africa has iron ore fines deposits of minimum Fe 64% content. Currently prices of Fe 65% South African fines are USD 53.3/MT, CFR China.

Other import vessels to India:

Essar Steel is likely to import an iron ore vessel of 103,500 MT from South Africa. The vessel named “Kamlesh” is expected to arrive at Hazira Port on 10 Mar’16. As per sources the iron ore has been imported on index basis.

As per sources, an iron ore import vessel carrying South African lump is expected to arrive in India by 1st week of Mar’16. However shipper and import quantity could not be confirmed. Currently, prices of South African lump (Fe 65%) are at USD 60/MT, CFR China.