Indian Pellet Export Trade Resumes on Fresh Chinese Buying
SteelMint in conversation with its market sources learned that an Indian pellet maker has recently concluded two export deals of 50,000 MT each for April delivery.
The deals concluded were around USD 106/MT, FoB India.
Prior to this, almost a week ago, an Odisha based pellet maker concluded pellet export deal to China at USD 114/MT, CFR China.
As per reports received to SteelMint, China's Hebei province this year will shut down 40 mines (other than coal mines) and 51 tailings dams. On March 29, the non-coal mine working conference was held in Shi Jiazhuang, the provincial capital of Hebei province.
Spot pellet premium for Fe 65% grade pellets was recorded at USD 25.35/DMT, CFR China last week, against 33.55/DMT a week before. However, the steel making hub of China, Tangshan has extended steel production curbs till Sep this year which is expected to lead to enhanced pellet demand.
source: SteelMint
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