Jindal Steel & Power Limited (JSPL) – India’s largest pellet exporter had offered pellets for export.JSPL offered 50,000 MT pellet for export on 06 Feb’18 for which shipment was scheduled to take place after 15 Feb’18.
According to market sources report to SteelMint, the pellet maker has concluded the export deal at around USD 116/MT, CFR China.
The pellet premium this week witnessed a decline of about USD 2.4/DMT, with premium at USD 39.7/DMT, last week it was at USD 42.10/DMT.
Last week, KIOCL concluded a deal for around 55,000 MT pellet (Grade Fe 64%) export to China at around USD 118-119/MT, CFR China for Feb’18 end shipment. The bids were realized at price higher than other exporters, over its specifications like lesser Alumina content which is around 1.5-2%.
Towards the beginning of last week, another Indian pellet exporter was heard to have concluded a deal of 50,000 MT pellet export to China for mid-Feb shipment at around USD 116.5-117/MT, CFR China.
The growing interest in exports is owing to softening domestic pellet prices, amid reduced buying interest and limited trades. Domestic pellet prices in eastern India have come down up to INR 1,200/MT M-o-M.
JSPL continued to be the largest exporter for the duration of CY’17 with exports at 1.98 MnT, accounting for 20% share in total pellet exports from India.
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