Eastern India Pellet Maker Concludes 50,000 MT Pellet Export Deal to China

Indian pellet export prices have moved up in recent deal concluded. Eastern India based pellet maker has concluded an export deal for around 50,000 MT for regular grade pellets (Fe 64%, containing 3% alumina) for June shipments. According to the sources, the deal has been concluded at around USD 126-127/MT, CFR China.

The deal price is higher by USD 4-5/MT against last deals concluded earlier this week. Odisha based pellet has concluded pellet export deal of 50,000 MT with Fe content 64/ 63%. As per the sources, the deal has been concluded at around USD 121/MT, CFR China for June shipments.

Also, another east India based major pellet maker BRPL was heard to have concluded pellet export deal to China. As per sources, the deal has been concluded at around USD 122/MT, CFR China for July. However, confirmation from company officials could not be received at the time of publishing this report.

As per the reports, demand for imported pellet cargoes is still not too strong in China and it could be possible that traders might have taken positions expecting improved demand for high-grade material in China./

Spot pellet premium fell sharply this week amid hike in fines price-: Spot pellet premium for Fe 65% grade pellets assessed at USD 23.2/DMT, CFR China this week, down by USD 8.2/DMT W-o-W against USD 31.4/DMT a week before. On the other hand, iron ore fines index climbed to around USD 104/MT a couple of days back on supply concerns.