India: Raipur Based Pellet Makers Book Over 50,000 MT for Exports

Raipur based pellet makers book over 50,000 MT for exports for August delivery, SteelMint learned from market participants. Although prices were not discovered at the time of publishing but SteelMint's price assessment for standard grade pellets stands at around USD 120-122/MT FOB India east coast. This is equivalent to INR 8,200-8,300/MT FoB basis.

SteelMint’s assessment for Indian pellet export has inched down by USD 2-3/MT against last week and currently stands at USD 135/MT, CFR China for standard grade pellet (3% Al)

Market participants indicated congestion at eastern India based ports over rains owing to which few major pellet makers are clearing their backlog orders and have remained away from fresh bookings.

However offers from few Odisha based pellet makers was heard at USD 138/MT, CFR China levels but no deal was reported so far this week.

Chinese port side transactions: In conversation with trade sources, SteelMint learned that Indian pellet (Fe 64%, 3% Al) was traded at Yuan 1,060-1,080/WMT at Chinese ports this week.