Offers of imported lump to India have fallen by USD 3-5/MT W-o-W.
Offers of imported South African lump have fallen further this week. Towards the beginning of last week, imported lump offers were assessed at USD 58-59/MT CFR Kandla for ready stock.
Current offers for ready stock of Kumba lump are in the range of USD 54-55/MT CFR Kandla. And for the shipments to arrive by end of Dec’15 offers are around USD 53/MT, CFR Kandla. Thus, offers have corrected by around USD 3-5/MT W-o-W.
However buying interest remains away from current levels. Importers are eyeing for offers at USD 52/MT, CFR Kandla.
A western India based market participant highlighted that “Imported lump offers are likely to stabilize at USD 52-53/MT, CFR Kandla. There are less chances of any significant variation in imported offers in the near term.”
Indian iron ore import: Trade highlights
- A vessel containing South African lump of around 70,000 MT was heard to be booked by a Goa based importer at USD 52-53/MT, CFR India. The vessel is expected to arrive at Indian port on end of Dec’15
- Vessel of 90,000 MT containing South African lump which was booked by Gallant Metal, Varssana Ispat, Welspun and Monosteel at around USD 64-65/MT, CFR Kandla is expected to reach Kandla Port by end of Nov’15
- It was heard through trade sources that Bagadiya Brothers has sold some quantity of imported lump (out of its total imported quantity of 59,900 MT) which it imported in 1st week of this month and is currently offering material at USD 54-55/MT, CFR Kandla
Leave a Reply