- Iron ore exports shipments from Goa increase in Apr’16
- Spot iron ore fines prices in China surge amid strong steel prices
Iron ore exports shipments from Goa increase in Apr’16
Goan iron ore exports which stood at 1.14 MnT in Mar’16 are likely to increase further in Apr’16. As per customs data maintained with SteelMint, Goa iron ore exports are may cross 1.17 MnT in Apr’16.
Iron ore exporters in Goa have exported 0.86 MnT iron ore to China by 18 Apr’16. Out of which Vedanta tops the list with export quantity of 0.43 MnT followed by Fomento Resources (0.18 MnT) and VM Salgaonkar (0.09 MnT). Other companies namely-Chowgule & Company, Kalinga Export and Royalline Resources have combiningly exported 0.17 MnT.
As on date, four export shipments from Goa are to arrive at berth for the month.
| Date |
Shipper |
Qty | Vessel Name | Loading Port | Destination |
Status |
| 14-Apr-16 |
Vedanta |
85,000 | GRM Princess | Mormugao | China | Anchorage |
| 15-Apr-16 | 90,000 | Double Prestige | ||||
| 15-Apr-16 | 85,000 | Indus Triumph | ||||
| 20-Apr-16 | 53,000 | Dubai Crown | Expected |
Qty in MT
Provisional data updated till 18 Apr’16
Source: SteelMint Stats, Customs
As per the customs data, the low grade fines (Fe 57%) export shipments which were exported last week were concluded in the range of USD 35-41/MT, CFR China.
Spot iron ore prices in China surge amid strong steel prices
Strengthening steel prices in China pushed iron ore prices near to USD 64/MT, CFR China for Fe 62% fines. Domestic rebar prices for HRB 400 grade (25 mm) in Beijing up by RMB 40/MT (USD 7/MT) within a week and stood at around RMB 2,900/MT (USD 449/MT) today (20 Apr’16).
Chinese steelmills are busy accumulating iron ore. Prices for Fe 57% fines were assessed at USD 43/MT, CFR China. Rising global iron ore prices in China will further boost low grade iron ore exports from Goa.
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