Indian Pellet Export Prices to China Fall in Recent Deal - Sources

According to market sources report to SteelMint, Indian pellet export prices have moved down in recent deals concluded by Odisha based pellet maker.

An eastern India based pellet maker has concluded an export deal around 50,000 MT for regular grade pellets (Fe 64%, containing 3% alumina) to China recently. According to the sources, the deal has been concluded at around USD 102/MT, CFR China.

SteelMint’s pellet export assessment stands on weekly basis at USD 90-91/MT, FoB India, down by USD 2 against last week.

Chinese mills are learned to have shifted interest towards high-grade pellets.

Spot pellet premium decreased on weekly basis: Spot pellet premium for Fe 65% grade pellets assessed at USD 22.1/MT, CFR China this week as against USD 23.60/MT, CFR China in the last assessment. Pellet premium has witnessed a down of around USD 2/MT in a week time.

As per data compiled by SteelHome consultancy, pellet inventory at major Chinese ports down to 7.2 MnT as on 30th Oct as compared to 7.5 MnT a week ago. Similarly, iron ore inventory at major Chinese ports also down to 131.65 MnT as on 30th Oct as compared to 134.1 MnT a week ago.