India: KIOCL Concludes 50,000 MT Iron Ore Concentrate Purchase Tender

State-owned, KIOCL had invited a tender for purchase of 50,000 DMT (dry metric tonne) iron ore concentrate-Haematite. Tender floated was for iron ore concentrate-Haematite (Fe 63.5%, Silica+Alumina 5.5% max) from indigenous sources for use in pellet plant at Mangalore, India as per specification. The due date was on 14th June'19.

According to market sources report to SteelMint, the tender has been concluded at around INR 6,050/MT, CFR Mangalore port. The tender has been concluded with an Odisha based company, as per sources.

KIOCL signs MoU to supply pellets to Europe

KIOCL on 26th Jun'19 signed MoU at METEC- 2019 at Dusseldorf, Germany with Glencore international AG and Steel Mont GMBH for the sale of pellets in European market including UK for a quantity of around 400,000 MT annually

This is the second MOU company has signed in last three months for the sale of high-grade pellet and it seems that they are continuously exploring non-Chinese markets. Towards the end of Apr'19, KIOCL had signed a tripartite MoU with Emirates Steel, Abu Dhabi, and Star Global, Dubai for sale of high-grade pellets to Emirates Steel.

According to SteelMint Stats, KIOCL remained India's 3rd largest pellet exporter in FY19 with export volume of 1.57 MnT. India exported a total of 9.3 MnT pellets in last fiscal.