Dwindling global iron ore price graph have pushed the demand up for the foreign material in India recently.
The momentum is observed in Indian market as the latest reports from one of the South African iron ore suppliers in India show that they have started receiving inquiries for iron ore lump import vessels. An official confirmed that they had booked a vessel for Kamachi Group to reach Krishnapattanam port and another vessel is likely to arrive in the first half of May at Kandla Port.
According to custom data maintained with SteelMint, Kamachi have imported 90,620 MT iron ore from South Africa on vessel MBA Rosaria, the vessel has arrived at berth at Krishnapattanam port on 24th Mar’17.
Offers are at around USD 85/MT CFR India, Assmang lump. The supplier is hopeful that many more inquiries may emerge if the global prices drop further.
As China observes Tomb-sweeping day holidays the market have had a very low activity keeping the global iron ore fines (Fe 62%) prices unchanged at USD 79/MT, CFR China for the day.
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