Southern India based pellet maker – KIOCL has concluded pellet export deal for 50,000 MT consisting of Fe 65% with less than 1% Al. As per the sources, the deal was concluded at around USD 111/MT, FoB India for immediate loading.
Last week on 13th Dec 2019, KIOCL had concluded pellet export deal for 50,000 MT consisting of Fe 64% content with less than 2% alumina at around USD 106.1/MT, FoB India.
However, SteelMint Pellet export assessment for the regular grade (Fe 64% and 3% Al) stands at USD 113-114MT, CNF China. Market participants reported slight softening in Chinese demand towards end of this week.
As per data compiled by SteelHome consultancy, iron ore inventory at major Chinese ports increased to 129.2 MnT as against 127.6 MnT assessed towards the end of last week. Pellet inventory witnessed at 6.2 MnT this week.
Spot pellet premium up marginally W-o-W:
Spot pellet premium for Fe 65% grade pellets picked up slightly to USD 23.95/MT,CFR China as against USD 23.6/MT, CFR China assessed last week.
According to data maintained with SteelMint, Indian pellet export volumes in Nov’19 recorded at 1.17 MnT, up 33% on a monthly basis as against 0.89 MnT a month ago.
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