Global iron ore prices have increased by USD 5/MT W-o-W amid strengthening steel prices in China. Bullish sentiments in Chinese steel market supported iron ore buying over which global iron ore prices moved up. Index for Fe 62% fines stood near USD 60/MT, CFR China in yesterday’s (13 Apr’16) closing.
Currently, offers for imported South African lump are in the range of USD 68-70/MT, CFR Kandla for May’16 deliveries. Last week the offers were assesed in the range of USD 65-67/MT, CFR Kandla. Vessel freight from South Africa to India is USD 7/MT for panamax vessels. As per the latest assesment, spot iron lump premium is assesed at USD 0.168/MT, CFR China.
A Gujarat based iron ore importer shared that “No new shipments have been booked recently as 2 previous vessels which were jointly booked by Gujarat based steel mills are likely to arrive ”.
As per customs data maintained with SteelMint, as of now there are four iron ore import vessels expected to arrive in Apr’16. Out of which two vessels are of Gujarat based steel mills carrying South African lump.
And the remaining two are of JSW Steel. Towards the beginning of this month, three import vessels were seen-two of JSW Steel and the other one is of Essar Steel.
Status of iron ore import vessels to India
|
Date |
Shipper | Qty | Vessel Name | Origin | Material Type |
Unloading Port |
Status |
| 07 Apr’16 | Essar Steel | 175,000 | Golden Magnum | South Africa | N/A | Hazira | Berth |
| 10 Apr’16 | JSW Steel | 160,000 | Q Myrtalia | Brazil | Fines | Jaigarh | Berth |
| 12 Apr’16 | JSW Steel | 150,000 | Star Princess | Brazil | Pellet feed/ Concentrate |
Jaigarh | Berth |
| 18 Apr’16 | SAL Steel and Monosteel |
90,000 | Scotian Express | South Africa | Lump | Kandla | Expected |
| 19 Apr’16 | JSW Steel | 160,000 | Wisdom of the Sea 1 | Brazil | Fines | Jaigarh | Expected |
| 19 Apr’16 | JSW Steel | 160,000 | Certoux | Brazil | N/A | Jaigarh | Expected |
| 24 Apr’16 | Electrotherm, Monosteel, Varssana and Welspun |
93,800 | Venus History | South Africa | Lump | Kandla | Expected |
Qty in MT
N/A: Not Available
Provisional data, as on 13 Apr’16
Source: SteelMint Stats, Customs
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