The first shipment of iron ore to leave Angola since 1976 left the Cutato mine in Cuando Cubango province by rail on April 10-11, according to Jamie van Reijendam, general manager of global trade at London trading house Ronly.
The 60,000-tonne shipment of 60-62% Fe Cutato lump is due to be exported from the southern port of Namibe in May, he said.
Ronly has been involved with the Companhia Siderúrgica do Cuchi (CSC) project in the southern African country as financier since 2019
and has exclusive offtake rights.
CSC’ majority shareholder, Brazil s Modulax Indústria e Comércio (Modulax), has been developing the project since 2015 and started operations at the Cutato mine at the start of 2021.
The first shipment of iron ore to leave Angola since 1976 left the Cutato mine in Cuando Cubango province by rail on April 10-11, according to Jamie van Reijendam, general manager of global trade at London trading house Ronly.
The 60,000-tonne shipment of 60-62% Fe Cutato lump is due to be exported from the southern port of Namibe in May, he said.
Ronly has been involved with the Companhia Siderúrgica do Cuchi (CSC) project in the southern African country as financier since 2019
and has exclusive offtake rights.
CSC’ majority shareholder, Brazil s Modulax Indústria e Comércio (Modulax), has been developing the project since 2015 and started operations at the Cutato mine at the start of 2021.
Buyers in the seaborne Asian lithium carbonate market reported increasing difficulty securing feedstock amid tight supply.
The battery-grade lithium hydroxide price in China jumped by 3.75%, while the equivalent grade lithium carbonate price held despite slower trades.
The Europe, US lithium spot complex continued to post sharp gains on the global bullish trend and tight supply.
Anticipation of lingering spot supply constraints for 2021 continued to lend support to lithium prices in the seaborne Asian market. A few buyers in the region said they had been warned by some producers that they are unlikely to meet buyers demand expectations.
Fastmarkets’ weekly assessment of the lithium carbonate, 99.5% Li2CO3 min, battery grade, spot price cif China, Japan and Korea rose to $11-12 per kg on Thursday, up by 2.22% from $10.50-12.00 per kg previously.
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