SteelMint learned from its market sources that eastern India based pellet maker – Brahmani River Pellets has concluded pellet export deal of 50,500 MT a couple of weeks back. The vessel named “MV Mariana” sailed from India’s Paradip port on 15th March and is expected to arrive at Saldanha Bay in South Africa.
As per reports, BRPL is eyeing European market and other non-Chinese market for pellet exports considering dull demand from Chinese mills. The company plans to ship around five vessels in the upcoming month.
Inquiries from Chinese mills remain on the lower side – Chinese mills continue to prefer low-grade iron ore which in turn kept inquiries for Indian pellets on the lower side. Even pellet port stocks in China have registered an increase in the last couple of weeks. Although no firm bids/offers were heard from China this week, but currently SteelMint’s assessment for India pellet export stands at around USD 116-117/MT, CFR China.
BRPL turns out to be the largest pellet exporter in Feb’19 – BRPL stood the largest exporter for Feb’19 with exports at 0.23 MnT down 12% as against 0.26 MnT in Jan’19. Indian pellet exports for the month of Feb’19 witnessed a decrease of 20% M-o-M to 0.81 MnT, as against 1.02 MnT a month before in Jan’19. KIOCL exported 0.17 MnT (Up 20%) in the month of Feb’19.
BRPL stood the largest Indian pellet exporter for the duration of CY’18 with exports at 2.03 MnT (up 14% Y-o-Y), accounting for 25% share in total pellet exports from India.BRPL, co-owned by Thriveni Pellets Pvt Ltd and JSW Techno Projects Ltd. has capacity of 4 MnT p.a.
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