India: Rungta Group commences pellet exports

Eastern India-based Rungta Group has commenced pellet exports, according to vessel line up data maintained with SteelMint. The vessel carrying 57,000 t of pellets is likely to be shipped by the company from Dhamra Port, data reveals. Towards end-Nov'21, SteelMint reported that Rungta Mines Ltd (RML) started production from its 3 mnt per annum pellet plant at village Chaliyama, Jharkhand.

India's pellet-making capacity has expanded rapidly in recent years with the surge in crude steel production. Current capacity is estimated at over 110 mnt. In 2021 alone, over 70 mnt of new capacity was accorded government approvals in the form of environment clearance (EC) as well as content to establish (CTE), month-wise data maintained with SteelMint reveals.

Production of iron ore pellets in India increased by 14% y-o-y to over 77 mnt in FY22 from around 67 mnt in FY21.

Total export shipments were recorded at 11.17 mnt in FY22, a drop of 19% y-o-y as against 13.85 mnt in FY21 mainly on significantly lower shipments to the key consumer China.