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
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
