With increased heat over grabbing the Indian cake between US and Australian miners market levels are settling well below USD 200 per tonne CNF India.

However the US miners have been disadvantaged with hike in Atlantic freight.

Working backwards the miners need to achieve USD 150 per tonne to USD 160 per tonne FOB to remain competitive.

Australian miners already at qualitative advantage as most of the Indian mills have standardized their technical parameters to Australia n specifications the freight leverage certainly gives round one to them

However Indian mills have become fastidious in buyer’s market by demanding import levels at around USD 175 per tonne to USD 190 per tonne CNF depending on the quality.

Source - Strategic Research Institute

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