Thanks for the reply White Pointer, This picked up from SDL. This region is directly west of the state NSL are in.
Thanks to NECTAR38
Iron Ore hoarding has started!!!
This is important news from India. India is the 3rd largest Iron Ore exporting nation, behind Australia and Brazil.
It exports approx 100Mt per annum, mainly to China.
The Kanatarka State Government of India that mines 46 Million Tonnes of iron ore each year and exports 60% of this ore has officially announced the ban of Iron Ore from 10 of its ports to China and has urged the other Indian mining regions to do the same.
The Kanatarka share of Indian iron ore exports is approx 27Mt, out of the total 100Mt that India exports to China.
This is now GONE from the world Seaborne Trade as of Monday!
At the minute with subdued Iron Ore demand this will provide a floor to the Spot Price of Iron ore of around $110 per tonne, $23 less than current spot price, but when demand rises in next 4 weeks for the peak season the supply shortage of 27Mt will increase the peak price of the ore!
