Indian pellet exports are gaining momentum, recent deal heard at USD 76-78/MT FoB.
Rising global prices, better realizations as well as strong pellet premium have opened up opportunities for pellet makers in India. In addition, rising pellet demand in China has also attracted Indian pellet makers for exports.
Indian pellet export offers are currently hovering at USD 76-78/MT, FOB India. As per sources, few of the deals have been concluded within the same range.
Trade wise:
1. An Odisha-based pellet maker is also under talks for pellet exports and current offers are assessed at USD 75-76/MT, FOB India.
2. Rashmi Metaliks also concluded another pellet export deal of around 50,000-60,000 MT pellets to China this week. However, Rashmi Metaliks is not offering pellets in the domestic market.
3. JSPL the leading pellet exporter has also lined up 5-6 export vessels for the month of Aug’16.
Pellet offers are up on strong pellet premium
It is very surprising that pellet premium has hit all time high and reached up to USD 30/MT mark this week. Usually, pellet premium stood in the range of USD 17-18/MT last year.
Increased pellet premium have made Indian pellets more competitive in the global market, hence Indian pellet exports are gaining momentum.
Leave a Reply