According to the market participants, western India base pellet maker- Jindal SAW has concluded a 50,000 MT pellet (Fe 63.5%) export deal to one of the south-eastern Asian country (Malaysia) recently. The price for the deal could not be confirmed but heard to have been booked on an index basis.
Indian pellet export market continues to remain slow as market participants are awaiting firm bids from China.
No export transactions were reported to China this week amid sluggish Chinese demand. As per the SteelMint assessment pellet export realization stands stable at USD 96-100/DMT FoB (Al 3%) due to the absence of bids from China. No firm bids for pellets from China were heard.
Chinese mills continue to prefer lumps and domestic pellets over seaborne pellets amid falling steel prices.
Spot pellet premium increased W-o-W -: Spot pellet premium for Fe 65% grade pellets assessed at USD 30.5/MT, CFR China as against USD 27.10/MT, CFR China a week before.
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