South African lump offers moved up in-line with rising index prices.
Iron ore has registered its biggest weekly gain as Chinese steel mills are to replenish stock of Iron ore and some big miners indicate production cut due to lower prices.
Index for 62% Iron fines, which sank to 10 years low, has recorded a gain of about 15% in last one week. Fe 62% Iron fines offers were assessed at USD 54/MT, CIF China that was at USD 47/MT a week back.
South African Lump
South African Kumba lump (6-30 mm, 64%), which is popular in Indian market, is being offered in the range of USD 68-70/MT, CIF India on High Sea Sales (HSS) for May end or June first week deliveries. Last offers were heard at USD 64-65/MT, CIF India.
A Sponge iron manufacturer based in Bellary mentioned to have offer for imported lump at INR 5,200-5,400/MT (ex-Krishnapatnam Port, Duty paid). While, freight assessed at around INR 1,100-1,200/MT (Krishnapatnam Port to Bellary).
Another Steelmaker based in Gujarat mentioned that offers have increased. However, steel units have sufficient stock. He also reported that offers for 62% Pellet from Jindal Saw are assessed at INR 5,300-5,350/MT (delivered to Kandla Port).
Indian Imported Iron Ore Vessel Movement in Apr’15
| Port | Vessel Name | Quantity | Shipper | Status | Date | Country |
| Jaigarh | Jubilant Success | 88,170 | Jsw | Berth | 5 Apr’15 | Brazil |
| Hazira | Cape Venture | 132,000 | Essar | Berth | 10 Apr’15 | South Africa |
| Krishnapatnam | Dorado | 39,800 | Kamachi Group | Berth | 15 Apr’15 | South Africa |
| Tuticorin | Dorado | 15,000 | Kamachi Group | Berth | 21 Apr’15 | South Africa |
| Krishnapatnam | Devongate | 37,645 | Mtc | Berth | 22 Apr’15 | South Africa |
| Tuticorine | Js Bandol | 55,900 | Swiss Singapore | Expected | 22 Apr’15 | South Africa |
| Jaigarh | Proud | 170,800 | Jsw | Expected | 2 May’15 | South Africa |
| Jaigarh | Yue Dian 83 | 80,000 | Jsw | Expected | 4 May’15 | Venezuela |
Quantity in MT; Provisional Data
Source: SteelMint Stats, Customs
| Particular | State | Size | Grade | Price | Change | 1W | 1M | 3M | 6M |
| CNF China* | – | Fines | 62 | 53.8 | + 1 | + 4 | – 2 | – 9 | – 30 |
| NMDC | Chhattisgarh | Fines | 64 | 1,960 | – | – | – 500 | – 1,100 | – 1,200 |
| 6-40 mm | 65 | 3,050 | – | – | – 200 | – 1,150 | – 1,550 | ||
| Rungta Mines | Odisha | 10-30 mm | 63 | 4,900 | – | 0 | 0 | – 620 | – 1,190 |
| Fines | 63 | 2,400 | – | 0 | 0 | – 500 | – 550 | ||
| Sponge Iron (C-DRI) | Raipur | 80 FeM | 17,100 | – 100 | – 300 | – 650 | – 2,400 | – 4,870 | |
| Bellary | 75 FeM | 15,800 | 0 | – 200 | – 600 | – 2,500 | – 3,550 |
* in USD/MT; rest in INR/MT
NMDC prices are excluding Royalty
Rungta Mines prices are loaded into wagons & including Royalty
Sponge iron Prices are ex-plant
Source: SteelMint Research
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