Southern India based pellet maker – KIOCL has concluded two pellet export vessels for 50,000 MT each consisting of Fe 64% content with less than 2% alumina today.
As per the sources, the deal was concluded at around USD 105/MT, FoB India. The company has concluded around USD 7-8/MT above the last deal concluded for exports, a month back.
The pellet export market is further expected to pick up due to stringent environmental controls and, higher steel margins and falling port inventories. As per data compiled by SteelHome consultancy, Iron ore inventory at major Chinese ports dropped to 129.4 MnT last weekend as against 129. 5 MnT assessed a week before. Pellet inventories were reported at 6.4 MnT against 6.5 MnT towards last weekend.
SteelMint’s assessment for Indian pellet export for regular grade pellets stands at USD 108.5-109.5/MT, CFR China for Fe 64%, 3% Al pellets up by USD 2/MT W-o-W.
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