In line with SteelMint’s forecast, Indian pellet export prices have moved up in recent export deal concluded. According to sources, an Odisha based major pellet maker has concluded 50,000 MT pellet export deal for Fe 64% and 3% Alumina towards the end of last week. The deal was heard to have concluded at USD 124/MT, CFR China.
Following this, SteelMint’s assessment for regular grade pellets has increased to USD 124-125/MT, CFR China which was at USD 116-117/MT, CFR last week.
Last week SteelMint reported , central India based pellet maker – Godawari Power & Ispat Ltd. has concluded an export deal of 50,000 MT pellet for Fe 64% (+/-.5%) with 2% alumina from Gangavaram port to China for mid-Mar’19 shipment. As per sources, the deal was concluded at around USD 118-119/DMT, CFR China.
After the recent mishap, iron ore miner- Vale has announced plans to halt 40 million tonnes of iron ore production and 10-11 million tonnes of pellet production, so that it can decommission dams similar to the one that burst last week. This resulted in sharp hike in iron ore & pellet prices in global market anticipating shortage in seaborne supply in near term.
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