According to market sources report to SteelMint, the Indian pellet export market has remained silent so far this week. India pellet exporters are offering standard grade pellets at around USD 107-108/MT, CFR China although market sources are expecting tradable value at USD 106-107/MT, CFR China. No export deals were reported this week.
As per the few Indian participants indicated that the bids from Chinese steelmakers remained slow this week amid sluggish demand and fewer activities after the Chinese New Year Holidays.
Chinese buyers are looking to buy from ports stocks as they have options available amid pollution control measures and revised policy for production curbs.
Spot iron ore fines (Fe 62%) index fell sharply yesterday by USD 4/MT D-o-D to USD 90.7/MT, CFR China.
Spot pellet premium increased on weekly basis: Spot pellet premium for Fe 65% grade pellets assessed at USD 17.65/MT, CFR China this week as against USD 17.05/MT, CFR China in last assessment. Pellet premium has witnessed a hike of around USD 2.15/MT in a month’s time.
As per data compiled by SteelHome consultancy, Pellet inventory at major Chinese ports increased sharply to 6.95MnT as on 08th Oct as compared to 5.75 MnT a week ago.
Leave a Reply