As per trade sources report to SteelMint, southern India based pellet maker – KIOCL has canceled pellet export tender recently due to the dull response received against expectations. The company had floated export tender offering 50,000 MT pellet consisting of Fe 64% content and less than 2% alumina export via tender almost a week ago. As per sources, they will closely watch the market before offering any tender for exports.
KIOCL had also floated the domestic pellet tender, which is under negotiations.
Earlier at the beginning of Nov’18, the company had floated export tender offering 50,000 MT pellet consisting of Fe 64% content and less than 2% alumina. However, amid lower bids received, the company had concluded the deal going off the tender at around USD 132/MT, FoB India.
This week, Jindal Steel & Power -an eastern India (Barbil ) based pellet maker has concluded two pellet export deals to China for January shipments of 50,000 MT each. Deal concluded was for pellets of Fe 64% grade containing 3% alumina. As per sources, the deals have been concluded at USD 112/MT, CFR China.
In another deal, (Jajpur) East India based pellet maker-Brahmani River Pellets concluded a pellet export deal to South Korea based steelmaker. As per the sources deal for around 55,200 MT pellets of grade Fe 64% with 3% alumina has been concluded at USD 112/MT, CFR South Korea.
Spot pellet premium dropped to seven months low this week -: Spot pellet premium for Fe 65% grade pellets assessed at USD 44.25/DMT, CFR China this week, down by USD 1.6/DMT W-o-W against USD 45.85/DMT a week before.
Indian Pellet Exports Up 10% in Nov’18-: Indian pellet exports for the month of Nov’18 witnessed an increase of 10% M-o-M to1.04 MnT, as against 0.74 MnT MnT in a month before in Oct’18.
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