Sharp rise in global iron ore prices has made imported iron ore expensive. Seaborne iron ore prices in China are on higher node and have gained USD 6/MT in a month time.
A west India based market participant shared that offers for imported South African lump have increased to USD 75/MT, CFR India, from USD 72-73/MT, CFR India last week.
Majority of Indian iron ore importers have turned silent over sharp rise in iron ore prices in the global market. However, few of the importers are still importing material either because of their immediate requirement or because of cargoes booked 1-2 months prior.
Also, Spot iron lump premium is assessed at USD 0.193/DMT, CFR China in Week 33, up by USD 0.003/DMT against its previous assessment of USD 0.190/DMT, CFR China in Week 32.
Jindal Saw’s 2 imported iron ore vessels expected to arrive in Aug’16
Jindal SAW has imported 2 imported iron ore vessels from South Africa. One vessel carries Assmang fines (Fe 64%) and another carries Assmang lump (Fe 65%). Both the vessels were heard to be booked on monthly index basis.
In the month of Jun’16, no iron ore vessel was imported by Gujarat based steel plants.
Also, Essar Steel is also importing around 75,600 MT iron ore from South Africa as it has immediate ore requirement at its Vizag Pellet Plant. The vessel is expected to come by the end of this month.
Status of imported iron ore vessels in Aug’16
| Date | Shipper | Quantity | Vessel Name | Load Country | Unloading Port | Status |
| 05 Aug’16 | Jindal SAW | 160,000 | Confignon | South Africa | Mundra | Berth |
| 08 Aug’16 | JSW Steel | 167,000 | Irene II | Brazil | Krishnapatnam | Berth |
| 09 Aug’16 | JSW Steel | 170,000 | K.M. Kobe | Brazil | Jaigarh | Expected |
| 18 Aug’16 | JSW Steel | 160,000 | CPO Oceania | Brazil | Jaigarh | Expected |
| 18 Aug’16 | Jindal SAW | 91,250 | Bottiglieri Sophie | South Africa | Mundra | Expected |
| 28 Aug’16 | Essar Steel | 75,600 | Brenda | South Africa | Vizag | Expected |
Qty in MT
Provisional data
Source: SteelMint Stats, Customs
Leave a Reply