Jindal Steel & Power Ltd (JSPL), one of the largest Iron Pellet producers located in Barbil (Odisha), has concluded an export deal for 50,000 tonnes of Fe 63.5 Pellets.
On October 18, JSPL had finalized this export deal with a Switzerland based trader at a price of USD 163/MT CFR China.
Shipment of the material will take place by the 15th of November, from Paradip Port.
INR is at 61 levels against USD and Pellet offers in China have gone up by USD 3/MT to USD 163/MT CFR.
This is the first deal between both the parties. It has been heard that the trader is keen to export Pellets, on anticipations of an increase in Chinese Pellet prices by the time it receives the material i.e. by November end.
JSPL's Iron Pellet Export Deals
|
Month |
Qty (MT) |
Grade (Fe%) |
Prices (USD/MT) |
Trader |
Shipment |
Port |
Buyer |
|
Aug Week1 |
50000 |
63 |
138-140 FoB |
Liberty Commodities Ltd (London) |
mid-September |
Paradip |
China
|
|
Aug Week 2 |
50000 |
63 |
143 FoB |
– |
September |
Paradip |
China
|
|
Aug Week 4 |
50000 |
62.5 |
151 CFR |
Poly Resources Ltd (Hong Kong) |
October |
Paradip |
China
|
|
Oct Week 3 |
50000 |
63.5 |
163 CFR |
Switzerland based |
by 15 November |
Paradip |
China
|
Domestic Pellet Market continues to be Slow
A couple of Pellet manufacturers located in Barbil (Odisha) are offering their material at INR 7,200/MT (ex works) to domestic buyers.
Though, demand has improved from the beginning of the month, buying volumes came down as domestic takers have preferred to purchase the material at lower prices.
JSPL's Pellet Making Capacity to Touch 8 MnT pa
The company's expansion plan of 4 MnT pa Pellet plant in Barbil by November end, will take JSPL's total Pellet making capacity to 8 MnT pa.
Leave a Reply