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
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