KIOCL, a state-owned and 100% export oriented unit, is importing around 72,000 MT iron ore fines from Brazil.
A vessel named “Sky Jade” carrying 72,400 MT iron ore fines is expected to reach Mangalore Port next month on 06 Sept’16.
This cargo is the company’s delayed cargo which they have booked 1-2 months prior. Its last iron ore import shipment was seen in Sept’15.
As per sources, the import vessel was booked in mid of July’16 and that time imported Brazilian fines offers were hovering in the range of USD 56-58/MT CFR.
Despite higher global iron ore prices the company has imported material because of its immediate requirement. Currently, global iron ore prices are at USD 61/MT, CFR China.
As Indian pellet export market is competitive and the global market is also favorable, Indian pellet exporters are actively participating the race of exports. KIOCL is one of the major pellet exporters to China.
Leave a Reply