Imported Iron Pellet offers to Indian market have been unchanged over last one month due to high spot iron ore and pellet prices in Chinese market.
Steel mills claim to have received offers for 64% Fe pellet at around $175/t CFR Indian west coast from Canada and around $165-170/t CFR from Brazil.
But there is hardly any buying interest from steel mills as domestic pellet prices are still cheaper than imported.
“We are not very keen to import pellets as availability in domestic market is good. It does not make much sense specially when Rupee is at 53 levels against USD and international prices are too high.
Average price for 63% Fe pellet in India are around Rs 7,500-8,000/t (Ex Works)”, said a steel mill owner based on Indian west coast.
Leave a Reply