Indian Pellet Export Market Turns Active with Recent Deals

According to market sources report to SteelMint, Indian pellet export market turn active amid decent deals concluded by pellet makers recently.

Jindal Steel & Power - an eastern India based pellet maker has concluded an export deal around 55,000 MT for regular grade pellets (Fe 64%, containing 3% alumina) to China towards the end of last week. According to the sources, the deal has been concluded at around USD 106/MT, CFR China for Nov shipment.

A central India based pellet maker last week concluded pellet export deal to China for 50,000 MT pellets (Fe 64%, less than 2% Al) at around USD 110/MT, CFR China (equivalent to USD 97-98/MT, FoB India). The cargo is likely to be shipped in Oct'19 end.

Another deal was reported by an eastern India giant pellet maker to Turkey for around 55,000 MT. Deal concluded price could not be confirmed till the time of publication of this report.

SteelMint’s pellet export assessment stands on weekly basis at USD 105-106/MT, CFR China.

Spot pellet premium increased last week: Spot pellet premium for Fe 65% grade pellets assessed at USD 17.65/MT, CFR China last week as against USD 17.05/MT, CFR China in the last assessment. Pellet premium has witnessed a hike of around USD 2.15/MT in a month's time.