Western India based pellet maker – Jindal SAW has suspended production for the time being due to coronavirus outbreak. However company’s pellet dispatches of previous bookings remain uninterrupted. The company resumed pellet offers in Feb’20 after undergoing maintenance shutdown for the past one month.
Since, Jindal SAW pellets are key source of raw material for Gujarat based steel mills, its possible they may look for other options in order to continue operations.
Jindal SAW last pellet offers assessed at INR 8,500/MT delivered kandla. Jindal SAW runs a 1.5 MnT pellet plant in Bhilwara (Rajasthan).
Spot global iron ore fines index down 4% D-o-D:
The global iron ore fines prices (Fe 62%) decreased to USD 86.55/MT, CFR China yesterday (20th Feb) as against USD 93/MT, CFR China a day before (19th Mar). Prices have fallen amid limited trades over deadly virus outbreak.
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