Indian Steel Mills Eye Iranian Pellet
According to vessel line up data maintained with SteelMint, vessel named “Magnum Force” carrying 53,860 MT pellets from Iran is expected to arrive at Kandla port shortly. Since the data maintained with SteelMint, it’s for the first time that India is importing pellets from Iran.
SteelMint has learned from the sources that Gujarat based steel mills & materials have collectively booked the vessel and the material is learned to be of Fe 65% grade.
As per the sources, the deal might be concluded approximately at around INR 8,600-8,800/MT, CNF India.
Western India pellet offers stable this week - Bhilwara (Rajasthan) based pellet maker - Jindal SAW has kept pellet offers unchanged at INR 8,500/MT delivered Kandla for Fe 63% grade pellets.
Indian Pellet import increased by 35% in FY’19-: According to data maintained with SteelMint, Indian pellet import volumes increased significantly by 35% FY’19. Pellet imports volumes were registered at 0.63 MnT in FY'19 against 0.47 MnT in FY'18. Essar Steel was the sole pellet importer in FY19 with entire quantity being booked from Bahrain.
India’s increasing steel trades with Iran:
1. India imported 21,590 MT HBI (Hot Briquetted Iron) from Iran. The vessel named "Jaohar Rasha" carrying 21,590 MT HBI is expected arrived at western India (Kandla) port on 18 Apr'19.
2. As per the vessel, line up data maintained Iran has exported around 3 bulk HRC vessels to India during Mar’19
source: SteelMint
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