Chinese Mills Raise Bids for Indian Pellets
India pellet export market seems to be strengthening this week. SteelMint has learned from trade sources that Chinese mills have marginally raised its bids for Indian pellets to USD 121-122/MT CFR, China against last assessment at USD 117-119/MT, CFR China for Fe 63% grade pellet (0.5+/-) with 3% Al content.
However, no deal was learned to be concluded at this rate. Few Indian pellet makers remained active in non-Chinese markets as well.
Tangshan — China's largest steel-producing city, will continue to partially enforce steel output and sintering restrictions until September. China govt. also plans to relocate around 13 steel mills from downtown addresses to coastal areas amid environmental concerns.
SteelMint has also learned from the sources that current prices of lumps and pellet are around at similar level, therefore, steelmaker in China might be given preference to pellets.
Spot pellet premium increased marginally W-o-W -: Spot pellet premium for Fe 65% grade pellets assessed at USD 30.4/DMT, CFR China this week, up by USD 1.3/DMT W-o-W against USD 29.1/DMT a week before.
Indian Pellet Exports Down 25% in Apr'19 -: According to data maintained with SteelMint, Indian pellet export volumes for Apr'19 have been recorded at 0.88 MnT, down 25% on monthly basis as against 1.17 MnT a month ago.
source: SteelMint
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