Dull domestic sales and higher export realizations drive Indian pellet shipments up by 56% in Jan'21

Indian pellet export shipments were recorded at 0.9 mn t in Jan'21, as per data maintained with SteelMint.Exports picked up 56% as against 0.58 mn t in Dec'20.

Indian pellet exports picked up on limited trades in the domestic market and higher realizations in exports. SteelMint's pellet export index (FOB East coast India) witnessed a rise from $ 170/t, towards mid Dec'20 to $196/t in mid Jan'21. Indian pellet export prices were trading at an all-time high at $196/t in Jan'21, as per the data maintained with SteelMint since CY'12.

On the other hand, Indian pellet domestic prices in Barbil increased to INR 11,950/t (loaded to wagons) in mid Jan'21 compared to INR 10,600/t (loaded to wagons) in mid Dec'20.

Falling pellet inventory at major Chinese ports further enhanced Indian exports. As per data compiled by SteelHome Consultancy, port inventory dropped to 5.7 mn t towards Jan'21 end as against 6.2 mn t towards early Jan'21. Pellets remained a preference amid pollution control norms amid winters.

Indian pellet export volumes to China up 49% in Jan'21

China continued to remain the largest importer of Indian pellets in Jan'21 at 0.53 mn t, up 49% m-o-m. South Korea stood second largest importer at 0.14 mn t followed by Brazil at 0.06 mn t.

BRPL recorded highest pellet exports in Jan'21

BRPL was the largest pellet exporter in Jan'21 at 0.30 mn t, up 33% against 0.23 mn t in Dec'20. Rashmi Metaliks stood second largest exporter at 0.17 mn t followed by Kalinga Metalics Limited at 0.14 mn t.

Qty in mn t, Provisional data,
Source: SteelMint Research, Customs

Dhamra port accounted for 40% of the total export

In Jan'21,exports from Dhamra port stood at 0.36 mn t, against 0.11 mn t in Dec'20. Paradip port stood second largest at 0.35 mn t and Mangalore port at 0.11 mn t.