Adhunik Metaliks Limited (AML), the flagship of Adhunik Group, has a 1.2 million ton per annum (MnTPA) Iron Pellet and Beneficiation plant which utilizes the low grade Iron ore fines and converts them into value added product Pellet.
The Jamshedpur (Jharkhand) based Iron Pellet maker, has closed an export deal today.
The total quantity of Iron Pellets offered to overseas buyer is 30,000 tonnes with grade Fe 63.5.
The deal has been finalized at a price of $140/MT FoB (today, US$ = INR 61.5).
Shipment of the raw material is to take place in the month of August and the delivery basis is FoB Haldia Port.
AML has concluded a direct deal with Hebei Iron & Steel Group Limited, which is based in China.
It was a good deal and looking at the same, the Jamshedpur based Iron Pellet manufacturer has raised domestic offers marginally.
Currently, prices are being quoted at Rs 6,500/MT (ex works Jamshedpur), which was earlier standing at Rs 6,400/MT (ex works Jamshedpur).
AML has an expansion plan for increasing its Iron Pellet making capacity in the current financial year.
It is looking forward to set up a 2.2 MnTPA Iron Pellet plant in the state of Odisha.
A couple of other Iron Pellet producers located in the eastern region of the country, are in talks with international buyers.
It is expected that Odisha based Pellet makers might close about two to three export deals in the current week itself.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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