Around 5-7 pellet export shipments are lined by Indian pellet exports for June deliveries-Sources.
Indian pellet exports are gearing up. Favorable global market conditions and sudden increase in global iron ore prices have turned Indian pellet manufacturers active for exports of pellets.
JSPL lined up 7 pellet exports shipments for June and July deliveries
One of the merchant pellet manufacturer, namely Jindal Steel & Power (JSPL), has lined up 5 bulk quantity shipments in the month of June’16 and 2 bulk shipments in the month of Jul’16. The shipments are likely to ship to China, according to few market participants.
In talks with SteelMint, few trade sources mentioned, for June deliveries, the pellet maker has recently concluded a deal for at USD 71-72/MT, CFR China. While the remaining four shipments have been concluded at USD 67-68/MT, CFR China. Meanwhile, for July’16 deliveries, the pellet maker has concluded the deal for both the shipments at USD 66-67/MT, CFR China. Vessel freight from India to China remained at around USD 6/MT.
BRPL pellet export shipments
Well known Odisha-based pellet maker, Brahmani River Pellets (BRPL), is also aggressively exporting pellets to China. The pellet maker has also lined up one or more shipments for June deliveries.
Trade sources shared with SteelMint, the pellet maker is expected to export around 55,000 MT pellets to China from Paradip Port. The vessel is expected to arrive at berth on 17 Jun’16. The deal has been tentatively concluded at USD 66-68/MT, CFR China. However, for July’16 deliveries, the pellet maker is yet to finalize the shipments.
The sudden increase in global iron ore prices has generated inquiry for export shipments for July deliveries. Few Odisha-based pellet makers eyes on exports rather than supplying pellet in the domestic market due to less buying interest in the domestic market resulting in high inventories levels.
Indian pellet exports in FY17
| Date | Company | Vessel Name | Quantity (MT) |
Price | Loading Port | Destination Country |
| 16 Apr’16 | BRPL | Darya Lakshmi | 54,000 | 63 | Paradip | China |
| 16 Apr’16 | JSPL | Evangelia M | 56,500 | N/A | Dhamra | Oman |
| 07 May’16 | PEC | Fatema Jahan | 10,000 | 50 | Paradip | Japan |
| 18 May’16 | BRPL | E.R. Bergamo | 54,350 | 66 | Paradip | China |
| 26 May’16 | JSPL | Asia Zircon I | 52,000 | 74 | Paradip | China |
| 05 May’16 | JSPL | Ingrid C | 55,000 | 65-67 | Dhamra | China |
| 05 May’16 | KIOCL | Calimero | 55,000 | N/A | Mangalore | China |
| 03 Jun’16 | BRPL | Cliffer Triton | 55,000 | N/A | Paradip | China |
| 06 Jun’16 | JSPL | ER Brighton | 54,500 | N/A | Paradip | China |
N/A: Not Available
FoB Prices in USD/MT
Provisional data
Source: SteelMint Stats, Customs
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