India’s largest pellet exporter – Jindal Steel & Power (JSPL) had offered 50,000 WMT pellets for export via online auction. The auction was scheduled to take place today i.e. 02 Nov’17. The material is likely to be shipped towards end Nov’17. As per market sources report to SteelMint, the pellet maker has concluded the deal around USD 119.5/MT, CFR China.
The price is marginally higher than company’s previous tender. Last week on 27 Oct’17 Jindal Steel & Power floated pellet export deal for about 50,000 MT. As per sources the tender was concluded at around USD 119/MT, CFR China.
Spot pellet premium for Fe 65% grade pellets has increased this week to USD 59/MT, CFR China against last week’s assessment of USD 56.3/MT, CFR China. Pellet premium has increased on strong steel margins and environmental restrictions in China.
According to SteelMint stats, JSPL exported 1.04 MnT pellets from Apr-Oct’17 and has by far remained India’s largest pellet exporter followed by BRPL and KIOCL. In previous fiscal, JSPL exported 2.29 MnT pellets.
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