India: Jindal SAW Concludes 50,000 MT Pellet Export Deal to China

According to market sources report to SteelMint, west India based pellet maker – Jindal SAW has concluded pellet export deal to China for 50,000 MT pellet consisting of Fe 63% (around 1.5% Al). The deal is heard to have concluded at USD 116/MT, FoB India for June shipment.

As per reports, Chinese steel mills have raised usage of pellets in blast furnace amid increased price of iron ore lump. The high lump prices are expected to continue for the month amid tight supply.

Last week southern India based pellet maker - KIOCL concluded pellet export deal offering 50,000 MT pellet consisting of Fe 64% content with less than 2% Al. As per the sources, the deal was concluded at around USD 119/MT, FoB India.

Spot pellet premium picked up last week - Spot pellet premium for Fe 65% grade pellets picked up to USD 27.30/DMT, CFR China this week as against USD 23.20/DMT, CFR China towards last week due to limited offers in spot market.

Jindal SAW raised domestic pellet offers - West India (Rajasthan) based pellet maker - Jindal SAW has increased pellet offers by INR 500/MT (USD 3/MT). Last week offers for Fe 63% grade pellets have moved up to INR 9,100/MT (delivered Kandla) against the previous assessment of INR 8,600/MT.