An eastern India based pellet maker has recently concluded an export deal for around 50,000 MT high grade pellet to China.
According to market sources, the export deal has been concluded at $ 99-100/MT, CFR China for around 50,000 MT pellets. Considering vessel freight from India to China to be around $ 7-8/MT, FoB price would come to be around $ 93-94/MT.
Pellet exports from India have been witnessing momentum since beginning of this fiscal over increased demand from China and better realization in exports.
It is to be noted that pellet export offers moved up significantly on monthly premises amid sharp increase in spot pellet premium. Spot pellet premium which generally remained at $ 17-18/MT last year is now reached at $ 32/MT due to increased demand from China which has given better opportunities to Indian pellet exporters.
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