South Africa: Iron Ore Export Shipments Fall 14% in Sep’19
As per bulk vessel line up data maintained with SteelMint, South African export shipments of iron ore in Sep’19 witnessed at 4.47 MnT, down 14% as against 5.21 MnT in Aug’19. Export shipments to India continued to remain nil for third consecutive month in Sep’19. The drop is attributed to availability of comparatively less expensive domestic pellets. Major buyers from west India and south India have shifted to pellets. Jindal SAW pellet prices are assessed at INR 8,050/MT, delivered Kandla.
According to market sources report to SteelMint, assessment for South African lump to India is heard at around USD 100-105/MT, CNF Kandla, however bids from western India remains at around USD 90-95/MT, CNF China. The offers for imported South African lumps to India have dropped over the time amid fall in global iron ore prices but, booking continue to remain on lower side. Also, as per market participants, South African Saldanha port will undergo maintenance shut in Oct’19 and hence, booking are expected for Nov’19 deliveries post resumption at Saldanha port.
Exports to China down 15% amid reduced demand
As per the data maintained with SteelMint, South Africa’s total iron ore export shipments to China for the month witnessed at 2.50 MnT as compared to 2.96 MnT in Aug’19. The exports dropped to China amid reduced demand. Chinese production curbs were extended by two months from Aug’19 to Oct’19. Also, towards Sep’19 Tangshan government imposed further production curbs in the city.
South African exports to Spain picked up to 0.16 MnT (up two folds) followed by Denmark and Italy 0.13 and 0.08 MnT respectively.
source: SteelMint
Top News
Five last month
Two last year
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Mercuria eyes equity in African assets, new metals boss says
Glencore posts lower metals output for first nine months, reiterates outlook
Gold price surge adds glitter to tarnished miners
Traders see gold as a surefire bet as coin-toss election looms
Anglo American sells Australian coal JV stake for $1.1 billion
Gold price shows little reaction to jobs data
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years