Central India: Bajrang Power and Ispat Concludes Two Pellet Export Deals
Central India based pellet maker - Shri Bajrang Power and Ispat Ltd has concluded two pellet export deals recently. SteelMint has learned from company officials that the deal has been concluded at around USD 117/MT, CFR China. Material shipment is scheduled for June.
Two weeks back, Raipur’s Godawari Power & Ispat concluded two pellet export deals of 50,000 MT.
However, in last few days, not aggressive booking of pellets has been seen by Chinese mills.
Which all factors have lowered imported pellet demand from China?
Preference to lump over pellets -: As per sources, Chinese mills are reluctant to take seaborne pellet rather preferring lumps and low-grade iron ore for blending purpose in the blast furnace.
Preference to domestic concentrate & pellets - Chinese steel mills are still actively looking for medium and low-grade iron fines and using domestic (China) pellet and concentrate. They are very much comfortable to use domestic pellets due to cost-effective measures. High pellet inventory at China ports also remains a challenge for Indian pellet makers.
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.
source: SteelMint
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