India: KIOCL Concludes 50,000 MT Pellet Export Deal
Pellet export prices have inched up in the recent deal. This is 3rd export deal concluded by the company in a week's time.
Southern India based pellet maker - KIOCL has concluded pellet export deal for 50,000 MT consisting of Fe 64% content with less than 2% alumina yesterday (13th Dec 2019) for immediate shipment. As per the sources, the deal was concluded at around USD 106.1/MT, FoB India.
This is the 3rd export vessel concluded in a week's time.
Last week KIOCL concluded two pellet export vessels for 50,000 MT each consisting of Fe 64% content with less than 2% alumina at around USD 105/MT, FoB India.
As per data compiled by SteelHome consultancy, iron ore inventory at major Chinese ports dropped to 127.6 MnT as against 129.5 MnT assessed towards the end of last week. Also, pellet inventory witnessed fall W-o-W to 6 MnT against 6.5 MnT a week ago, depicting rising pellet demand in China amid winter production curbs.
However, SteelMint's assessment for Indian pellet export for regular grade pellets (for Fe 64%, 3% Al) stands at USD 113-114/MT, CFR China, up by USD 3-4/MT W-o-W.
source: SteelMint
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