Indian pellet export offers for Fe 63/64% grade pellets are witnessed a downtrend and currently at USD 95-97/MT, CFR China. East India based pellet exporters are in talks with China for exports but none got materialized.
SteelMint assessment for Fe 64.5-65% pellet exports is around USD 85-87/MT, FoB India for Jan’17 shipments. Vessel freight from India will be around USD 9-10/MT.
According to market sources, pellet premium for spot market has gone down by USD 3/MT in a month time. Currently, premium for Fe 65% BF grade pellets is assessed at USD 22.5/MT.
Indian pellet exports have gained momentum starting FY’17 due to increased demand from China. In addition, in FY’17 (till Dec’16), Indian pellet exports was registered at 5.5 MnT, which is likely to be around 7 MnT by the end of this fiscal.
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