SteelMint learned in conversation with trade participants that Indian pellet export prices have remained majorly stable this week however decent number of export deals were reported to Chinese as well as non-Chinese markets in last one week.
–Jindal Steel Concluded Pellet Export Deals to China: Jindal Steel & Power -an eastern India (Barbil )based pellet maker has concluded two pellet export deals to China for January shipments of 50,000 MT each. Deal concluded was for pellets of Fe 64% grade containing 3% alumina. As per sources, the deals have been concluded at USD 112/MT, CFR China.
—BRPL Concludes Pellet Export Deal to South Korea: In another deal, (Jajpur) East India based pellet maker-Brahmani River Pellets concluded a pellet export deal to South Korea based steelmaker. As per the sources deal for around 55,200 MT pellets of grade Fe 64% with 3% alumina has been concluded at USD 112/MT, CFR South Korea.
Prior to this, Brahmani River Pellets concluded pellet export deals to Indonesia of around 60,000 MT pellets. , The deal has been concluded at USD 110/MT, CFR Indonesia for Dec shipment. Vessel freight rate from India to Indonesia is around USD 7-8/MT.
–KIOCL floated pellet export tender: Southern India based pellet maker- KIOCL had floated a pellet export tender for 50,000 MT consisting of Fe 64% content and less than 2% alumina, almost a week ago.
SteelMint’s assessment for Indian pellet export remains stable at around USD 110-112/MT, CFR China.
Spot pellet premium dropped to seven months low this week -: Spot pellet premium for Fe 65% grade pellets assessed at USD 44.25/DMT, CFR China this week, down by USD 1.6/DMT W-o-W against USD 45.85/DMT a week before.
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