Imports of Iron Pellet to the Northwestern part of India – Gandhidham city in the state of Gujarat, saw an increase of 60% M-o-M to 68,300 MT in June. In May, 42,700 MT of Pellet had been imported.
Total Quantity of Pellet received in June (till the 29th) and May:
At Kandla Port:
From Middle East (Bahrain) June 9,500 MT, Down 58% (13,200 MT) M-o-M
May = 22,700 MT
From Europe (Russia) June = 43,800 MT, Up 338% (33,800 MT) M-o-M
May = 10,000 MT
From Europe (Finland) and From Africa No imports took place in June and May.
At Mundra Port:
From Australia June = 15,000 MT, Up 50% (5,000 MT) M-o-M
May = 10,000 MT
The quantity of Pellet being imported from Russia increased during June as it was the only source of supply for any big quantity required, in comparison to the overall shortage from Middle east and Australia.
In the present day, Russia is looking to raise its capacity and focusing on long term contracts, rather than supplying more of it to Indian market. Hence, availability has tightened.
It has been heard that a trader has procured the large quantity of raw material from an Australian exporter.
Middle east based suppliers are understood to have taken a maintenance shut down and production continuous to be on hold due to unavailability of the required concentrate, resulting in a sharp fall in imports to India.
Pellet importers in India are intending to procure domestic material from state owned manufacturer – KIOCL (Mangalore) due to the exchange rate of INR, which has weakened to 60 levels and also as there is lack of supply from overseas market.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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