Indian Steel Mills Actively Book Lump Import Vessels from South Africa

West India (Gujarat) based steel mills continue to book South African import vessels. According to market sources report to SteelMint, Gujarat based steel mills have collectively booked two import vessels of South African lump. One vessel containing 90,000 MT for Fe 65% Kumba lump has been booked for November shipment at monthly average index basis. Another vessel of around 150,000-170,000 MT lump containing mix of Kumba and Assmang has been booked by a trader for November shipment.

As per a supplier of Assmang lump " the material movement is expected to be resumed at normal pace post 17th Oct after maintenance work is completed. At present only one loader is operational, post maintenance work, both the loaders will be operational. We are waiting till end of October before we book more vessels."

It is to be noted that weather constraints, port congestion along with the railway maintenance shut down had reduced the lump availability in last one month's time.

Few market participants also reported vessels to arrive in Goa too.

No pellet offers from Jindal SAW

West India based pellet maker - Jindal SAW is not seen giving pellet offers in merchant market amid less stock and previous export bookings made. Last offer for Fe 63% was assessed at INR 9,400/MT, delivered Kandla

Indian iron ore imports in Q2 FY19

According to the customs data maintained with SteelMint, Indian iron ore imports in Q2 FY'19 recorded at 4.04 MnT. On the quarterly basis, imports increased by 16% against 3.48 MnT in Q1 FY'19. Out of this, major sources were Australia contributing 71% of total imports at 2.87 MnT, followed by Brazil at 0.52 MnT. South Africa stood third largest exporter at 0.43 MnT, contributing 11% of total Indian imports for the quarter.