India: KIOCL Concludes 50,000 MT Pellet Export Deal
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Southern India based pellet maker - KIOCL has concluded a pellet export deal for 50,000 MT recently, as per SteelMint sources. The deal for pellet having a specification of Fe 64% grade pellets with 1.8% Al has been concluded at USD 94.5-95/MT, FoB India for May dispatches.
Pellet exports bookings from India have increased sharply on subdued domestic buying. SteelMint learned from its sources that around 10-11 cargoes (amounting to 500,000 -550,000 MT) of pellet exports have been booked in the last 10-12 days from India for Apr end & early May shipment.
With aggressive offers for export, Indian pellet export prices are trading at almost 5-months low. SteelMint's assessment for Fe 64%, 3% Al pellet stands at USD 99-100/MT, CFR China.
Indian pellet export volumes for the fiscal year FY'20 was recorded at 12.62 MnT, up 38% as against 9.16 MnT in FY'19, according to data maintained with SteelMint. BRPL, Rashmi Metaliks, JSPL and KIOCL remained the top exporters.
