Ardent Steel Limited (ASL), an Iron Pellet manufacturer based in Keonjhar (Odisha) (0.6 MnT pa Pellet plant) and a subsidiary of Godavari Power & Ispat Ltd, has finalized a Pellet export deal for shipment during mid-December.
The total quantity of Fe 63 grade Pellets stands at 30,000 MT and the price at which the deal has been concluded with a Singapore based trader, is USD 147/MT FoB Paradip Port.
China
Pellet offers have gone up by USD 5/MT to USD 165-170/MT CFR China in international market. Fe 63.5/63 Iron ore fines prices are stable at USD 136/MT CFR China.
INR at 2 months low
INR touched a 2 months low level at 63.88 against USD on 13 November 2013. Indian Pellet exporters continue to concentrate on exports market around favorable Rupee and rise in international market demand.
Other Pellet producers located in Tatanagar and Barbil are in talks with international buyers and might finalize an export deal soon. An exporter based in Odisha, has offered 50,000 Pellets at USD 168-169/MT CFR China, for December’s shipment.
Recent Export Deals Concluded by Indian Pellet Manufacturers
Pellets are being offered at INR 7,000/MT (ex works Keonjhar) to domestic takers, who are reluctant to lift the material at current price levels and have come down in terms of quantity. Sales are being concluded in the range of INR 6,800-6,900/MT as low semi finish steel prices have impacted off take of Pellets at current price levels.
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