India: Odisha Based Pellet Maker Concludes 58,000 MT Export Deal to China
Odisha based pellet maker has concluded pellet export deal for around 58,000 MT quantity to China. The deal is heard to have concluded for Jan shipment at around USD 114/MT, CFR China for Fe 64% pellets with 3% Al. The deal price is mostly similar to the SteelMint's price assessment last week.
The demand for imported pellet remained on higher side amid winter production curbs. Since Dec' 19, steel mills in East China's Shandong province and North China's Shanxi province have been forced to obey strict production curbs because of heavy air pollution. However amid holidays, trades have slowed down. Few offers were reported at USD 115/MT, CFR China levels.
SteelMint's pellet export assessment for the regular grade (Fe 64% and 3% Al) stands at USD 113-114/MT CNF China.
Last week, KIOCL had concluded pellet export deal for 50,000 MT consisting of Fe 65% with less than 1% Al. As per the sources, the deal was concluded at around USD 111/MT, FoB India for immediate loading.
As per data compiled by SteelHome consultancy, pellet inventory at major Chinese ports increased to 6.25 MnT as against 6.2MnT assessed towards the end of last week.
Spot pellet premium: Spot pellet premium for Fe 65% grade pellets picked up to USD 25.45/MT, CFR China last week as against USD 23.95/MT, CFR China assessed a week before.
source: SteelMint
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