One of India’s major pellet exporter – Essar Steel has yesterday concluded an export deal of around 50,000 MT pellets to China for end November shipment. As per updates received the deal has been concluded around USD 123/MT, CFR China. The price is higher by USD 2-3/MT than the company’s previous export tender concluded towards end of Oct’17.
Towards end of October, the pellet maker has booked nearly 100,000 MT pellets to China for November shipment. As per sources, the deal was concluded at around USD 120.5/MT, CFR China.
Spot pellet premium was heard to have remained unchanged and presently assessed at USD 59/MT, CFR China for Fe 65% grade pellets. However iron ore fines (Fe 62%) index has strengthened this week and is assessed at USD 63.5/MT, CFR China.
According to SteelMint stats, Essar Steel exported 0.71 MnT pellets from Apr-Oct’17 and has by far remained India’s 4th largest pellet exporter after JSPL, BRPL and KIOCL. In previous fiscal, Essar Steel exported 1.37 MnT pellets.
Another pellet export deal reported by West Bengal based pellet maker – A West Bengal (east India ) based pellet maker is heard to have sold around 50,120 MT pellets to China a couple of days back at USD 119-120/MT, CFR China.
Pellet demand in China continues to remain strong amid high steel margins and environmental concerns resulting in sintering cuts forcing mills to procure pellets. India has emerged a major source of pellets to China this year after operations interrupted from Brazilian Samarco.
Leave a Reply