Declining Chinese Pellet Port Stocks to Keep Indian Pellet Export Prices Supported
Indian pellet export prices have found support on declining Chinese port stocks. SteelMint’s pellet export assessment stands at USD 104-106/MT, CFR China for standard grade pellets with 3% Al, Fe 64%. Pellet export assessement has increased marginally against last assessment at USD 103/MT, CFR China.
The rise in prices is attributed to falling port inventories. As per data compiled by SteelHome consultancy, Iron ore inventory at major Chinese ports dropped to 130.35 MnT as against 131.75 MnT assessed towards the end of last week. Pellet inventories were reported at 6.9 MnT this week against 7.25 MnT towards last weekend.
Spot pellet premium up by around USD 3/MT: Spot pellet premium for Fe 65% grade pellets picked to USD 27.05 as against USD 24.15/MT, CFR China assessed last week. The approaching winter production curbs are expected to push up the pellet demand.
Towards the beginning of the week, an Odisha based pellet maker had concluded pellet export deal for Fe 64% grade and, 3% Al at China at USD 103/MT, CFR China.
Chinese spot iron ore fines price up 8% during the week: Chinese spot iron ore prices opened up this week at USD 78.45/MT,CFR China and increased to USD 84.75/MT, CFR China towards weekend.
source: SteelMint
Top News
Six last month
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
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
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
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
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
