Iron ore and Coal

South African Lump Offers to India Inch Up on Rising Global Iron Ore Prices

South African Lump Offers to India Inch Up on Rising Global Iron Ore Prices
Mining News Pro - According to market sources report to SteelMint, offers for imported South African lump to India have inched up following increase in lump premium and global prices.. As per sources, South African lumps offer is hovering around USD 92/MT, CFR India.
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Benchmark iron ore fines (Fe 62%) index witnessed increase of USD 1.75/MT W-o-W basis to USD 67.55/MT, CFR China as on 31st July’18 against being USD 65.8/MT, CFR China a week ago.

Spot lump premium is currently assessed at 0.2515/dmtu as on 31st July`18.

A Gujarat based importer shared that they havent booked any fresh vessel this week as they are waiting arrival for previous cargo bookings made.

“We have one Capesize lump vessel to be loaded in August and one more Supramax vessel to be loaded in August. , shared a lump supplier.

For this week, Jindal SAW pellet offers for Fe 63% assessed at INR 7500/MT delivered Kandla, stable on weekly basis. However, earlier last week the pellet maker had increased pellet prices by INR 150/MT, from INR 7350/MT to INR 7500/MT owing to rise in global iron ore fines prices.

List of iron ore import vessels to India in July`18

Shipper

Port

Vessel Name

Quantity

Status

Country

JSW Steel

Jaigarh

Berge Zugspitze

190,600

Berth

Australia

JSW Steel

Jaigarh

Ore Bayovar

175,300

Berth

Brazil

JSW Steel

Jaigarh

Ksl Seville

165,375

Berth

Australia

JSW Steel

Krishnapatnam

Berge Kuju

189,930

Berth

Australia

JSW Steel

Krishnapatnam

Hanna Oldendorff

191,549

Berth

Australia

Essar Steel

Krishnapatnam

Berge Arctic

169,000

Berth

Canada

JSW Steel

Krishnapatnam

Lavinia Oldendorff

189,342

Berth

Australia

Kamachi

Krishnapatnam

Anangel Dawn

111,058

Berth

South Africa

JSW Steel

Krishnapatnam

Herun Zhejiang

166,000

Berth

Australia

South Africa contributed half of total Indian iron ore imports in June`18

India’s iron ore import from South Africa in June`18 recorded at 0.45 MnT, contributing 49% share of total Indian iron ore import, according to the customs data maintained by SteelMint. On a yearly basis, iron ore imports increased sharply as against 0.05 MnT in June`17.

For Q1 FY’19, South African exports to India recorded at 1.07 MnT, down 10% compared to 1.19 MnT in Q4 FY’18.

 

 


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