Indian Pellet Export Market Remains Active With Recent Deals

Indian pellet export market has continued to remain active with a couple of deals being concluded towards the end of last week.

An Odisha (eastern India) based pellet maker has concluded a pellet export deal for 50,000 MT for March shipment for Fe 64% grade pellets with 3% Al. The deal was reported to be concluded at USD 119-120/MT, CFR China.

Another east India based pellet maker also concluded an export deal of 55,000 MT (Fe 64%, 2.5% Al) pellets to China. As per the sources, the deal was concluded at USD 118/MT CFR, China.

Due to the weak demand and coronavirus outbreak in China, inquiries have slowed down. SteelMint has learned from the sources that Chinese mills are not interested in prompt cargoes and they are preferring March or April 2020 shipment.

At the mid of last week, Southern India based pellet maker - KIOCL had concluded two pellet (Fe 64%, less than 2% Al) export deals for 50,000 MT each at USD 111.5/MT, FoB India.

SteelMint's assessment for Indian pellet export for Fe 64% (3% Al) stands at USD 119-120/MT, CFR China, increased marginally by USD 1-2/MT this week.