Indian Pellet Export Market Remains Quiet
India pellet export market remains quiet this week. Indian pellet makers were heard offering Fe 64/63% pellets with 3% Alumina at USD 119-120/MT CFR China but no deals were reported.
Chinese steel mills are still actively looking for medium and low-grade iron fines and using domestic (China) pellet and comfortable to use domestic pellets due to cost-effective measures. High pellet inventory at China ports also remains a challenge for Indian pellet makers. Currently, pellet inventory at ports reported stable at 4.9 MnT W-o-W.
Spot pellet premium decreased marginally W-o-W -: Spot pellet premium for Fe 65% grade pellets assessed at USD 29.1/DMT, CFR China this week, down by USD 0.15/DMT W-o-W against USD 29.25/DMT a week before.
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.
source: SteelMint
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