Spot iron lump premium ascends to USD 0.115/dry MT unit.
Offers for imported lump from South Africa remains stable at USD 62/MT, CIF India for shipments to arrive by mid of Aug’15. Imported offers were seen at similar levels in last week.
South African lump remains a preference for importers owing to higher Fe content and high tumbler index. Out of the total iron ore import to India in Q1 FY16, share of import from South Africa was 79%.
India has imported 652,500 MT in July’15 (till 29 July’15). All import shipments recorded this month are from South Africa. Majority of the imported iron ore comprises of lump.
Status of Iron Ore Import Vessels to India in July’15
|
|
Qty | Shipper | Country | Unloading Port | Vessel Name |
|
| 19 July’15 | 55,000 | Various | South Africa | Mormugao | Alam Sayang | Berth |
| 07 July’15 | 173,100 | Kamachi Group | Krishnapatnam | Blue Hotse | Berth | |
| 13 July’15 | 161,900 | N/A | Kandla | C Oasis | Berth | |
| 20 July’15 | 45,500 | Kamachi Group | Krishnapatnam | MV JS Yukon | Berth | |
| 20 July’15 | 160,000 | JSW | Jaigarh | Frontier Kotobuki | Berth | |
| 26 July’15 | 57,000 | SSIPL | Krishnapatnam | Ikian Siakap | Berth | |
| 29 July’15 | 15,000 | N/A | Tuticorin | JS Yukon | Expected | |
| Total | 667,500 |
Qty in MT
N/A: Not Available
Provisional data
Updated till 29 July’15
Source: SteelMint Stats, Customs
JSW Steel Reduces Imports and Increases Domestic Purchases
The steel giant has reduced its iron ore imports and increased purchases from domestic market. Also, in the running quarter of this fiscal the company plans to prefer domestic material over imported ones over the expectations of improvement in iron ore availability in the domestic market.
Seaborne Iron Lump Premium Up by USD 0.005/ dry MT unit
Strong demand for iron lump premium was noticed in recent days as Chinese government strengthened pollution control norms compelling mills to use higher quality material. Thus steel mills seem to prefer lump over fines as sintering the latter involves more polluting steel making process.
Lump trades in China have also witnessed an increase this week over last week. Seaborne lump premium which was at USD 0.11/dry MT unit last week has raised to USD 0.115/dry MT unit in this week. Thus, bookings made for September shipments will go on higher prices.
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