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South Africa iron ore export shipments up 27% in Q3 CY'20
Fines/Lumps
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15 Oct 2020, 15:15 IST
South Africa iron ore export shipments up 27% in Q3 CY'20

South African iron ore export shipments in Q3 CY'20 witnessed 27% increase on a quarterly basis to 15.93 mn t, against 12.49 mn t in Q2 CY'20, according to bulk vessel line up data maintained with SteelMint.

On a monthly basis too, exports recorded a rise to 6.03 mn t in Sep'20, against 5.56 mn t in Aug'20.

Shipments to China rose 23% in Q3 CY'20

South Africa's total iron ore export to China for the third quarter CY 20 recorded at 10.52 mn t, up 23% as compared to 8.58 mn t in Q2 CY'20. Korea stood second largest at 1.29 mn t (up 34% Q-o-Q) followed by Netherland at 1.11 mn t.

South African exports to China continue to increase amid rising Chinese infrastructure demand due to end of golden week holidays rendering increased buying. Also, it is expected that China's crude steel output for the year may exceed 1 bn mark, inviting more imports of iron ore. Hence, with Country like South Africa which exports more than 50% of iron ore to China is expected to benefit with it.

South African export shipments to India stood nil in Q3 CY'20

The total iron ore exports to India for the quarter continued to remain nil. Exports last witnessed in the month of Mar'20 were at 0.11 mn t.

SteelMint's assessment of South African imported lumps to India increased to $ 123/t, CNF Kandla in Q3 CY'20 as against $ 108/t, CNF Kandla in Q2 CY'20. Currently, the South African indicative lump offers stands at $ 130-134/t, CNF Kandla. As per market sources report to SteelMint, the prices for imported lumps are not viable due to high global prices and hence, booking for imported lumps have remained on the lower side. Port based plants are using domestic iron ore, pellets or scrap as their raw material feed.

Also, in last month, Imported South African lump price assessment increased to about $132/t, CNF Kandla in Sep'20 as against $125/t, CNF Kandla in Aug'20.

South Africa iron ore export shipment line up

Qty in mn t
Source: SteelMint, Custom
Provisional Data

 

15 Oct 2020, 15:15 IST

 

 

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