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India: Jindal SAW Resumes Pellet Production

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Pellets

BigMint Bureau

680 Reads

11 May 2020, 13:34 IST

India: Jindal SAW Resumes Pellet Production

Western India based pellet maker - Jindal SAW has resumed pellet production from 9th May'20 after a gap of over one month due to imposed lock-down. The company has a 1.5 MnT pellet plant in Bhilwara (Rajasthan) and is a key supplier of pellets to Gujarat based steel mills.

It was also learned that the pellet maker has increased offers today. As per the sources, current offers of pellets (Fe 63%) stand at INR 8,100/MT (delivered Kandla) against offers of INR 7,800/MT at the end of last week. The price hike made is in line with a hike in global iron ore fines price seen last week.

Market participants reported subdued demand currently from domestic buyers.

Chinese spot iron ore prices increased to USD 88/MT CFR China at the end of last weekend (08 May'20) against last assessment USD 84/MT CFR China. Few market sources shared that prices gained momentum since Brazilian suppliers expected that exports will be affected amid lockdowns in the South American country.