Arya Iron & Steel Co. Pvt Ltd (AISCO), an Iron Pellet manufacturer located in Barbil (Odisha), has concluded an export deal in the current week.
AISCO has an Iron Pellet plant with 1.2 million tonne per annum (MnTPA) installed production capacity and the raw material is used for merchant sales only.
The 35,000 tonnes of Fe 63 Iron Pellet export deal has been concluded with a UK based steel trader, Liberty Commodities Limited, at a price of US$139/MT FoB Paradeep Port.
Shipment of the material will take place in the month of September.
Domestic Offers inch up Marginally
AISCO has raised Iron Pellet offers slightly for domestic buyers and has decided to close bookings as of now.
Current prices are standing at Rs 6,300/MT (loaded), which was at Rs 6,200/MT previous to this.
The marginal increase in prices is owing to a good export deal closed by the company.
Adhunik Metaliks Ltd (AML) hikes Iron Pellet Prices
AML has raised Iron Pellet prices for domestic trades by Rs 200/MT to Rs 6,600/MT (ex works Jamshedpur) w.e.f August 16.
In the current week, AML had also concluded an export deal, due to which it is offering Fe 63 Iron Pellet at higher prices presently.
Weakening Domestic Prices opened up Export Possibilities
A couple of factors i.e. sliding Rupee and weakening Iron Pellet prices in Indian market during mid-July, have most importantly, given an opportunity to manufacturers for exports, which might not have been feasible otherwise.
A couple of Keonjhar (Odisha) based Iron Pellet makers are also in talks with overseas buyers regarding export deals.
Indian Iron Pellet manufacturers are exploring export possibilities to make the most out of the favorable exchange rate of INR against US dollar, which touched an all time low of 62 level today.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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