With one iron ore import vessel, southern India steel makers focused more on domestic iron ore/pellet sourcing in Dec’16.
Base prices in Dec’16 Karnataka e-auctions moved up marginally – NMDC Kumaraswamy mines are currently as follows: fines (Fe 59.5%) stood at INR 1,707/MT and lump (Fe 63.4%) at INR 2,302/MT. Base prices for NMDC Donimalai, are as follows – lump (Fe 62.2%) – INR 2,286/MT and fines (Fe 60.2%) – INR 1,980/MT.
Base prices of iron ore offered by private miners were as follows: fines (Fe 60.3%) offered by SMIORE was at INR 1,850/MT and for lump (Fe 61.8%) it stood at INR 2,180-2,300/MT (basic).
NMDC’s sponge grade lump fetches higher bids in Dec’16 e-auctions – Southern India based sponge iron manufacturers continued procuring sponge grade lump in Karnataka e-auctions. Lump (10-20 mm, Fe 61.4%) offered by NMDC Kumarswamy mines received bids at INR 1,912/MT against base price of INR 1,762/MT (basic).
Andhra Pradesh based steel maker – Steel Exchange India continues to source iron ore from NMDC (Chhattisgarh).
Southern India pellet offers move up amid increasing P-DRI prices – Bellary pellet manufacturers have raised offers amid improved trades over hike in P-DRI prices. Fe 63% pellet prices are presently in the range of INR 5,400-5,500/MT (basic).
Single iron ore import vessel arrived at Krishnapatnam port in Dec’16 – Kamachi group imported a vessel carrying 60,500 MT South African lump at Krishnapatnam port in 1st week of Dec’16.
Another import vessel carrying 54,300 MT South African lump is expected to reach Krishnapatnam port on 06 Jan’17. The vessel is being jointly imported by Pulkit Metals and Akshara Industries.
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