Surge in iron ore fines index following rally in futures, have pushed up pellet prices. Indian pellet export prices have increased further in a recent deal reported. Southern India based pellet maker – KIOCL has concluded export deal for 55,000 t as per reliable sources report to SteelMint. Deal Fe 64% grade pellets with less than 2% Al was reported to be concluded at $117-118/t, FoB India for Aug’20 shipments.
In Jul’20, KIOCL concluded two pellet export deals (Fe 64%, less than 2% Al) at $102.5/t FoB India and that the deal was concluded for MENA region.
Spot iron ore fines (Fe 62%) yesterday rallied by $2.95/t to $121.45/t and hit one-year high following rise in iron ore futures. On a weekly basis, spot prices increased by around $10/t and around $16/t CFR China on a monthly basis.
However, for standard grade Indian pellets (Fe 64%, 3% Al) price indications are around $120-121/t, CFR China. SteelMint’s pellet export assessment has increased by 7$/t w-o-w to $107/t FoB India for standard grade pellets.
Spot pellet premium for Fe 65% grade pellets assessed for this week at $3.65/t, CFR China as against $ 7.85/t, CFR China a week back.
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