Indian Exporter Books Pellet Vessel to China

According to market participants report to SteelMint, an Indian trader has recently booked a pellet export vessel at around USD 119.25/MT, CFR China.

Currently spot pellet premium is observed at USD 59/MT, CFR China against previous assessment of USD 56.3/MT, CFR China.

Last week JSPL concluded a tender 50,000 WMT pellets for export via online auction i.e. 02 Nov'17. As per market sources reported to SteelMint, the pellet maker has concluded the deal around USD 119.5/MT, CFR China.

Indian pellet exports have been increasing this fiscal amid rising Chinese Steel demand and falling pellet supplies from Brazilian Samarco. Indian Pellet Exports during Apr-Oct stood at 4.93 MnT against 3.63 MnT last year same period. Thus up by 36% Y-o-Y.