Jindal Steel & Power -an eastern India based pellet maker has recently concluded an export deal for around 50,000 MT for regular grade pellets (Fe 64/63%, containing 3% alumina). According to the sources, the deal has been concluded at around USD 139.5-140/MT, CFR China. The material shipment is scheduled in October.
Indian pellet export prices have been softening after Chinese Golden Week Holidays which ended on 07th Oct’18. There is increased preference of Chinese mills towards iron ore fines than pellets. The pellet purchase by Chinese mills is observed on the lower side due to relaxation in environmental controls by the Chinese government in Tangshan, followed by shift towards adoption of fines. The Chinese spot iron ore prices witnessed at USD 75/MT, CFR China, up USD 1.55/MT against USD 73.45/MT last week end.
Last week, Southern India based pellet maker – KIOCL had floated an e-tender for export of 50,000 MT pellets (Fe 65%/64%, less than 2% Alumina). According to market sources report to SteelMint, the deal was concluded at USD 139-140/MT, FoB.
Spot pellet premium drops USD 10.50/DMT W-o-W
Spot pellet premium for Fe 65% grade pellets assessed at USD 74.10/DMT, CFR China this week, down by USD 10.50/DMT W-o-W against USD 84.60/DMT a week before.
Indian Pellet Exports Up 7% in Q2 FY19
According to the customs data maintained with SteelMint, Indian pellet exports have registered rise of 7% to 1.96 MnT in Q2 FY’19 against 1.83 MnT in Q1 FY’19. BRPL stood the largest exporter of pellets for the quarter at 0.55 MnT, up 16% as against 0.47 MnT Q1 FY19. JSPL stood second largest exporter at 0.44 MnT (up 8% Q-o-Q). Other major exporters were KIOCL, Rashmi Metaliks, Jindal SAW, Essar Steel etc.
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