Indian Pellet Exports Down 22% in Sep’19 Amid Fall in Chinese Demand
According to data maintained with SteelMint, Indian pellet export volumes in Sep'19 were recorded at 1.11 MnT, down 22% on monthly basis as against 1.42 MnT a month ago.
Why have Indian pellet export volumes fallen in Sept'19?
Chinese mills preference to lump and domestic pellets : Chinese mills increased preference for lumps, domestic pellets and concentrate in Sep’19 amid falling lump premium and falling steel margins. As a result, pellet inventory at major Chinese ports increased in Sep’19 to 5.75 MnT as against 5 MnT towards Aug’19 end. This also resulted in decline of Indian pellet export prices to China in Sept'19 by USD 15-20/MT since beginning of Aug.
Rise in Iron ore inventory at Chinese Port : Amid easing supply concerns, iron ore inventory at major Chinese ports increased till last week in Sep’19 to 125.55 MnT towards the last week of last month at 125.25 MnT.
Indian pellet exports to China down 39% in Sep’19
China continued to remain the largest importer of Indian pellets for Sep’19 at 0.79 MnT, down 39% as compared to 1.30 MnT in the previous month.
Indian pellet exports to non-Chinese markets picked up to 0.32 MnT as against 0.12 MnT in Aug’19. Indian pellet exports to Oman recorded at 0.11 MnT followed by Malaysia 0.09 MnT.
BRPL stood the largest pellet exporter for the month
BRPL marked the largest Indian pellet exporter for the month of Sep’19 at 0.27 MnT, down 6% compared to 0.29 MnT in Aug’19. JSPL recorded second largest exports at 0.20 MnT (down 20%), followed by Rashmi Metaliks at 0.15 MnT (down 50%) and Bagadiya Brothers at 0.11 MnT.
source: SteelMint
Top News
Six last month
MinRes halts Bald Hill mine amid lithium price rout
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Swapping aluminum for copper will maintain China’s resources, group says
Gold loses some luster after Trump’s decisive win
Hedge funds slash bullish wagers on gold over Trump election win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Families gather at South African mine shaft where hundreds are feared stuck underground
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
