Essar Steel – an Indian pellet maker with a capacity of 14 MnT pa has recently concluded a pellet export deal for 55,000 MT pellets. The company has concluded a deal for 55,000 MT low alumina and high basicity pellets.
As per sources the company received a high premium of around USD 58/MT. The material shipment for the same is scheduled in June. Yesterday iron ore fines (Fe 62%) index edged up and was assessed at USD 65.95/MT, CFR China.
According to customs data maintained with SteelMint, Essar Steel stood 4th largest pellet exporter in FY’18 with the quantity of 1.25 MnT.
Indian pellet exporters have started to actively look out for other non-Chinese markets. There has been increasing demand for a pellet with low alumina content in Non-Chinese markets. According to the sources, some pellets maker concluded a deal as well for Malaysia and South Korea recently.
Indian Pellet export surge 8% Y-o-Y in FY’18 –
Indian pellet exports have increased 8% to 8.96 MnT in FY’18 against 8.26 MnT in FY’17. JSPL stood the largest exporter for FY’18 at 1.92 MnT, (21% of total pellet exports share). BRPL stood second highest exporter at 1.70 MnT, followed by KIOCL and Essar Steel. Other exporters were Rashmi Metaliks, Bagadiya Brothers, Arya Iron & Steel, and Jindal SAW.
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