Limited inquiries in the domestic market due to production cut amid lock-down has turned Indian pellet makers active for exports.
— According to market sources report to SteelMint, a Raipur based pellet maker has concluded deal for three vessels for export for low Al. The deal has been concluded at around USD 102-105/MT, for April and May shipment.
— Another Raipur based pellet maker is heard to have booked export vessels this week for Fe 64%, 3% Al at around USD 101-102/MT, CFR China.
Yesterday Raipur (Central India) based pellet manufacturers have also resume quoting pellet offers in the domestic market. Current offers for Fe 63% grade stands at around INR 5,900-6,000/MT (ex-Raipur, GST extra) as against last offer of INR 6,300/MT a month back.
Apart from central India, around 14-15 cargoes for pellet exports from other regions of the country have been booked in the last 10-15 days for the Apr end & May shipment.
Domestic pellet trades remain slow amid nationwide lock-down inside the country. Steel mills either facing suspension or have curtailed operation. 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 99-101/MT, CFR China.
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