Amid weak iron ore prices in global market, imported lump offers to India have fallen further this week.
South African lump offers to India for ready stock have fallen to USD 47/MT, CFR Kandla in week 51. Last week, the offers were hovering in the range of USD 53-54/MT, CFR Kandla. Thus offers have noticed a fall of USD 6-7/MT, W-o-W.
And for the shipments to arrive by mid of Jan’15 the South African imported lump offers are heard to be around USD 45-46/MT, CFR Kandla. Vessel freight from South Africa to India is USD 6-7/MT for cape-size vessels.
A market participant based in west India shared that “Quite a considerable stock of imported lump is lying unsold at Kandla Port. But the demand for imported lump has increased comparatively in last few weeks as prices of semi-finished and finished products have moved up”.
Trade participants shared that an iron ore import vessel of JSW International comprising of Assmang lump is expected to arrive at Kandla Port towards the end of this month. The vessel was booked around USD 51-52/MT, CFR Kandla.
It was heard through a market source that an import vessel of around 90,000 MT iron ore was booked recently at USD 44-45/MT, CFR Kandla. The vessel is expected to arrive at Kandla Port in 2nd week of Jan’15.
Status of iron ore import vessels to India
|
Date |
Shipper | Qty (MT) | Vessel Name |
Unloading Port |
Country | Approx Price |
Status |
| 06 Dec’15 | Gallant Metal, Monosteel, Welspun Steel, Varrsana Ispat |
91,100 | Bulk Malaysia | Kandla | South Africa | 64-65 | Berth |
| 11 Dec’15 | Kamachi Group | 91,000 | Jin Hang | Krishnapatnam | NA | Berth | |
| 15 Dec’15 | Goa Sponge & Power and Shraddha Ispat |
56,000 | Densa Leopard | Mormugao | 52-53 | Berth | |
| 18 Jan’16 | JSW Steel | 150,000 | Tiger Liaoning | Jaigarh | Brazil | NA | Expected |
Provisional data
Prices in USD/MT, CFR India
NA-Not Available
Source: SteelMint Stats, Customs
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