Pellet export bookings from India have increased sharply on subdue domestic buying. SteelMint learned from its sources, around 8 cargoes for pellet exports have been booked in the last 7-10 days from for Apr end & early May shipment. Assuming an average parcel size of 50,000 MT, total quantum booked comes around 400,000 MT.
Majorly export cargoes have been booked for China. Also one booking was reported for Europe.
Southern India based – KIOCL had floated a limited pellet export tender yesterday for the month of Apr’20 for the empanelled customers. Results for the tender were still awaited till the time of publishing this article.
With aggressive offers for export, Indian pellet export prices are trading at almost 5-months low. SteelMint’s assessment for Fe 64%, 3% Al pellet stands at USD 100-101/MT, CFR China.
Domestic pellet trades remain slow amid lock-down in country and mills either facing suspension or curtailing operation. Offers from Odisha were reported at INR 5,100-5,300/MT loaded to wagons.
Spot pellet premium declined further USD 3/MT W-o-W-: Spot pellet premium for Fe 65% grade pellets was assessed at USD 24.7/MT, CFR China this week as against USD 28.15/MT, CFR China a week back before.
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