India’s import offers for South African iron ore lumps (Fe 64%) rose $1.5/t w-o-w to $112/t CNF Kandla on 27 Nov’24. Imports were not cost-effective for mills in western India amid cheaper domestic material. Consequently, South African mines are supplying higher-grade lumps to China amid steady winter demand. China’s seaborne spot prices for iron ore (Fe 62%) fines remained stable w-o-w at $103/t CFR on 26 Nov.
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