Indian Pellet Export Market Remains Silent Amid Mute Chinese Demand
Indian pellet export market continues remain slow as market participants are awaiting firm bids from China. According to the market participants, no firm bids for pellets from China were heard but indications for export around USD 110-115/MT, CFR China levels (3% Al pellets).
Indian pellet makers are waiting for stability & improvement in bids. No export transactions were reported this week as Chinese steel mills prefer iron ore lumps over pellets.
As per the market sources, one of the Indian pellet makers is in talks to conclude a pellet export deal for South-east Asia for Fe 63.5% grade pellet.
Spot iron ore fines price has decreased to USD 88/MT, CFR China yesterday (20th Aug) as against USD 115/MT, CFR China a month back. The prices have dropped by around USD 27-28/MT CFR China against hovering at five years high levels at USD 126/MT, CFR China towards early July.
source: SteelMint
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