East India based pellet maker – Jindal Steel & Power (JSPL) is likely to conduct auction for pellet exports tomorrow. As per sources report to SteelMint, the quantity offered will be around 50,000 MT and the shipment period is around 20 Oct’17.
On 05 Sept’17, JSPL closed the export tender of 50,000 MT of Indian pellet at USD 121.50/MT CFR China, for the Sept end or early Oct’17 delivery. This resulted Indian pellet export offers to climb to nearly 38 months high.
This week pellet premium has remained unchanged at USD 41.5/DMT, CFR China.
JSPL is also seen offering pellets in domestic market in limited quantity at INR 5,300/MT (loaded to wagons).
JSPL remained India’s largest pellet exporter so far in CY17 and exported 1.43 MnT pellets during Jan-Aug’17. In CY17 (till Aug’17) Indian pellet exports were recorded at 5.88 MnT.
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