Indian pellet export prices have witnessed stability in the recent deals concluded. However, this week has observed a slow down in the pellet export bookings against previous weeks. Few traders highlighted the decline in bids from China, resulting in limited trades this week.
— Southern India based pellet maker – KIOCL has concluded a pellet export deal for 55,000 MT via tender yesterday (i.e 28th May), as per SteelMint sources. The deal concluded for pellets (having a specification of Fe 64% grade pellets with 2% Al) has been concluded at around USD 107/MT, FoB India for June dispatches.
— Towards mid of this week, an Odisha based pellet maker concluded a pellet export deal for around 50,000 MT pellets (Fe 64% grade with around 3% Al) at around USD 113/MT, CFR China for June shipment.
— In yet another deal reported this week, an eastern India based pellet maker concluded an export deal at around USD 114-114.5/MT, CFR China for Jun shipment. However this deal could not be confirmed till the time of publishing this report.
SteelMint assessment for Fe 64% grade pellets with 3% Al stable this week at USD 111-113/MT, CFR China same against the last week assessment.
Spot pellet premium increased USD 2/MT W-o-W -: Spot pellet premium for Fe 64% grade pellets has increased by almost USD 2/MT to USD 18.35/MT, CFR China as against USD 16.6/MT,CFR China a week back.
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