India: Godawari Ispat Concludes 50,000 MT Pellet Export Deal - Sources

According to market sources report to SteelMint, Central India based pellet maker - Godawari Power & Ispat Ltd. has today (i.e 11th Jan'19) concluded an export deal of 50,000 MT pellet for Fe 64% (+/-.5%) with 2% alumina from Gangavaram port.

According to the sources, it's a mid-Feb'19 shipment. The deal price was not confirmed at the time of publication. But market participant anticipated that these compositions of pellet deal would be fetched at around USD 113-114/DMT, CFR China and this would be translated at around INR 6,000/WMT (Ex-plant).

Indian pellets export offers have observed a downtrend amid less demand. Buying interest from Chinese mills remains subdued on rising port inventories of iron pellets.

GPIL has 1.8 million tonne pellet capacity in the state. The company has exported around 3-4 vessels in the last three months to South Korea and China.