Indian Pellet Exports Remain Stable in FY'19
According to data maintained with SteelMint, Indian pellet export volumes have remained majorly stable on yearly basis. Pellet export volumes were registered at 9.22 MnT in FY'19 against 8.96 MnT in FY'18.
Indian pellet exports observed improved demand from Chinese steel mills during Sept-Nov 2018, due to strict governmental regulations in China and announcement of capacity cuts. Later amid shrinking steel margins and less stringent regulations, Chinese mills preferred low-grade iron ore and concentrate resulting in limited inquiries for pellets. Indian pellet makers turned active in non-Chinese markets too.
Indian pellet export reference price assessment increased by 14% to USD 111/MT, FoB India in FY'19 against USD 97/MT, FoB in FY'18.
However, on monthly basis, Indian pellet exports have increased sharply by 44% to 1.17 MnT in Mar'19 as against 0.81 MnT in Feb'19.
Indian pellet export volumes to non-Chinese markets increased in FY19
China continued to remain the largest importer of Indian pellets in FY'19 with the quantity of 6.75 MnT, down by 10% as against 7.39 MnT in FY'18. South Korea stood the 2nd largest importer of Indian pellet and increased two-fold for the financial year FY’19 at 0.94 MnT. Other destinations for Indian pellet exports were the UK (United Kingdom) at 0.25 MnT and Oman at 0.22 MnT.
In the financial year, FY’19 India pellet exporter looked for non-Chinese markets and increased its exports by 57% to 2.47 MnT as against previous fiscal year at 1.57 MnT.
BRPL stood the largest pellet exporter in FY'19 with exports at 2.38 MnT, increased significantly by 40% as against 1.70 MnT in FY’18.
JSPL stood second largest in the list of Indian pellet exports at 1.82 MnT (down 5% Y-o-Y), followed by KIOCL at 1.52 MnT (down 4%) and Rashmi Metaliks 1.08 MnT in FY’19. Jindal SAW pellet exports moved up sharply by 49% in FY'19 to 0.32 MnT as against 0.22 MnT in FY'18. It majorly supplied to POSCO, South Korea.
Other exporters were Essar Steel, Arya Iron & Steel, and others.
Paradeep port accounted almost 50% share in FY'19 Indian pellet exports
Pellet exports from Paradeep port recorded highest in FY'19 at 4.54 MnT against 4.63 MnT in FY'18 up by 2%, followed by Dhamra port at 2.27 MnT (up 14%), Mangalore port at 1.52 MnT (down 4%) and Mundra port at 0.43 MnT.
source: SteelMint
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