Indian Pellet Export Market Turns Active; Two Deals Reported
KIOCL - a southern India based pellet maker has recently concluded 50,000 MT pellet export deal to China, SteelMint learned from market sources. The deal has been concluded for pellet consisting of Fe 64% and 2% alumina at around USD 98/MT, FoB India for immediate September loading.
As per sources, an east India based pellet maker has also concluded an export deal for regular grade pellet (Fe 64% and 3% alumina). The deal is heard to be concluded at around USD 108/MT, CFR China. However the quantity & delivery schedule could not be confirmed at the time of publishing this report.
SteelMint's assessment for Indian pellet export for 3% alumina stands at USD 92/MT, FoB India which is equivalent to USD 106/MT, CFR China.
Chinese bids for pellet is witnessed on lower side amid narrowing steel margins and Chinese mills preference of lumps and domestic pellets over seaborne pellets.
Pellet premium fell 24% W-o-W:
Spot pellet premium for Fe 65% grade pellets assessed at USD 15.50/MT, CFR China as against USD 20.40/MT, CFR China a week before. Pellet inventory at major Chinese ports witnessed rise to 5.25 MnT as against 5 MnT a week ago.
Spot iron ore fines index up:
Spot iron ore fines (Fe 62%) prices witnessed rise to USD 95.50/MT, CFR China assessed yesterday (11th Sep) as against USD 88.10/MT, CFR China assessed towards last weekend.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
