Eastern India Pellet Maker Concludes 50,000 MT Export Deal to China
Indian pellet export market has gained some movement after observing a week's silence. According to market sources reported to SteelMint, an east India based pellet maker has concluded pellet export deal to China for 50,000 MT pellet (Fe 64%, and 3% Al).
As per sources, the deal has been concluded at around USD 108/MT, CFR China for prompt shipment with laycan in the first week of Sept’19. As per the SteelMint assessment pellet export realization stands stable at USD 92-94/DMT FoB (Al 3%).
Limited firm bids for pellets from China were reported last week as Chinese mills continue to prefer lumps and domestic pellets over seaborne pellets amid falling steel prices. A week back, Jindal SAW concluded pellet export deal to Malaysia. Indian pellet export prices have come down by USD 20-25/MT in a month's time on falling global iron ore fines price and weakening steel prices.
Spot pellet premium decreased W-o-W -: Spot pellet premium for Fe 65% grade pellets assessed at USD 24.3/MT, CFR China last week as against USD 30.6/MT, CFR China a week before.
source: SteelMint
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