South African iron ore lump (Fe 64%) import offers increased by $2.5/t w-o-w to $125.5/t CNF Kandla on 8 May’24. Price rose amid surge in demand post Chinese holidays. However, sources stated that this offer may not be feasible for Indian buyers as domestic pellet offers in Kandla are cheaper. Benchmark Fe 62% fines index rose by $2/t w-o-w to $119/t CFR China on 7 May.
