SteelMint’s pellet index (FoB east cost India) was down by $2.5/t w-o-w to $103.5/t on Wednesday as buying interest from China on increasing portside stocks. The previous assessment was done on 15 Jul at $106/t.
Pellet inventory at major Chinese ports increased to 9.1 mn t at the end of last week against 8.7 mn t assessed in the preceding week.
- No pellet export deal has been concluded so far this week with zero weightage assigned to the T1 category of inputs.
- SteelMint has received three indicative prices and offers in the publishing window. All the inputs were considered for price calculation as T2 inputs with an average price of $103/t. T2 carried a 100% weightage due to the absence of T1 trades.
- T1 includes confirmed deals while offers, bids, and indicative prices are included as T2 inputs. Both T1 and T2 categories of inputs carry 50% weightage each in price calculation for FOB price assessment.
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