Sources reported Monday, Oct. 8, that the Indian government is focusing on East Coast deliveries from the MMTC tender that closed Oct. 5.
Dreymoor had the lowest offer into an East Coast port at $356/mt CFR. With a total cost package close to $20/mt, sources said the netback to China is $335-$337/mt FOB. While the price is significantly higher than what MMTC paid in its last tender, sources report Chinese producers are holding out for $340/mt FOB.