China iron ore pellet: Prices little changed
China's seaborne pellet prices were little changed as bids remained at around $113-114/dry metric tonne (dmt), although large Indian pellet producers were unwilling to sell at these prices because of robust domestic demand in India.
The Argus 64pc Fe, 3pc Al pellet was assessed unchanged at $114/dmt this week, while the 2pc Al was unchanged at $117/dmt.
A cargo of BRPL 64pc pellet for late-December loading was sold at $114/dmt yesterday.
A cargo of BRPL pellet for early-January loading was offered at $113.5/dmt today, with a bid at $113/dmt.
Domestic prices in India are quite high so we are not that keen on exporting, said a senior executive at a large Indian producer.
An export-focused pellet producer was looking to sell to China but at around $115-116/dmt cfr.
"Demand for pellet is quite strong. We sold out our stocks of seaborne Indian pellet last week," said a Shanghai-based trader.
Indian pellet was sold at Yn945/wmt, at a seaborne equivalent $118.50/dmt, in Shandong yesterday, while a KIOCL 2pc Al pellet was offered at Yn980/wmt in Rizhao.
source: Argus Media
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