NATBRIDGE TRADING PTE. LTD. Business Review

During the Platts Market on Close assessment process, Forchi Holding Pte. Ltd. was bidding for a 62% Fe Pilbara Blend lump (PBL) cargo at 49 cents/dmtu CFR Qingdao over the April average of IODEX, for 70,000-100,000 mt, with a load port laycan of March 30 to April 14. Market participants with lump cargoes on hand indicated that lump premiums would have to be closer to 60 cents/dmtu for them to consider selling given the difficulty in securing lump cargoes at the port. Liquidity continued to be poor in the portside market with sellers continuing to raise their offers on surging demand. Market sources pegged the current portside lump premium to be around 55-60 cents/dmtu with the fixed price equivalent over $10/dmt higher than seaborne cargoes.

During the Platts Market on Close assessment process, Forchi Holding Pte. Ltd. was bidding for a 62% Fe Pilbara Blend lump (PBL) cargo at 49 cents/dmtu CFR Qingdao over the April average of IODEX, for 70,000-100,000 mt, with a load port laycan of March 30 to April 14. Market participants with lump cargoes on hand indicated that lump premiums would have to be closer to 60 cents/dmtu for them to consider selling given the difficulty in securing lump cargoes at the port. Liquidity continued to be poor in the portside market with sellers continuing to raise their offers on surging demand. Market sources pegged the current portside lump premium to be around 55-60 cents/dmtu with the fixed price equivalent over $10/dmt higher than seaborne cargoes.