Indian pellet export market has continued to witness limited trade activities this week.
* An eastern India based pellet maker has reportedly concluded an export deal for 25,000 t pellets to Malaysia, SteelMint learned from its credible sources. The pellets deal is for Fe 64%, 3% Al, concluded at around $115/t, CFR basis, and the freight charges are at around $13/t.
* In yet another unconfirmed pellet export deal concluded by an Odisha based producer, was reported at around $112/t.
SteelMint assessment for Fe 64% grade pellets with 3% Al assessed at $110-112/t, CFR China, marginally down by $1-2/t w-o-w. In last one month, prices have come down by around $4-5/t.
Towards the end of last week, a central India based pellet maker concluded a pellet export deal for around 55,000 t pellet (Fe 64%, 3% Al) to China at around $ 111/t, CFR levels.
Chinese mills are reluctant to buy Indian imported pellets and also the Chinese port inventories remain on the higher side. Trade participants reported limited inquiries.
As per data compiled by SteelHome consultancy, pellet inventory at major Chinese ports increased to 7.2 mn t as on 18th June as against 6.9 mn t assessed a week ago (as on 11th June).
Chinese steel market is expected to remain less active as upcoming “Dragon boat festival” scheduled from 25th June to 27th June, is expected to keep trades on lower side.
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