According to market sources report to SteelMint, Indian pellet export market has witnessed two trades last week. After remaining silent towards beginning of last week, few trades from India were reported to China. However SteelMint’s assessment for Indian pellet export stands at USD 132-134/MT, CFR China, mostly in line with last week’s assessment.
1. A central India based pellet maker concluded pellet export deal to China towards last week end. The deal was heard to have concluded for 50,000 MT pellet (2% Al) at around USD 135/MT, CFR China.
2. Also, towards last week, an east India based pellet maker concluded a pellet export deal to China for regular grade pellet (Fe 64%, Al 3%). The deal concluded at around USD 133-135/MT, CFR China.
3. As per market participants report to SteelMint, an east India based pellet maker has floated a pellet export tender today for Aug’19 shipment. Price expectation is around USD 133-134/MT, CFR China.
Indicative tradeable price for pellets at Chinese ports was learned at Yuan 1,070-1,080/MT this week.
Chinese spot iron ore prices stable W-o-W
Chinese spot iron ore prices assessed at USD 118.45/MT, yesterday (29th July), almost in line with last week assessment at USD 118.10/MT. Towards mid of last week, the prices dropped to USD 115.10/MT amid easing concerns from Vale. The miner on 23rd July’19 announced authority received from National Mining Agency (ANM) for partial resumption of dry processing at Vargem Grande Complex, which is expected to add 5 MnT of production in 2019. However, towards weekend amid expectation of rising infrastructure projects in China the prices gained to USD 118.75/MT.
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