BigMint is a Market Intelligence and Price Reporting firm that caters to the data and analytics requirements of businesses in the commodities sector. It publishes real time prices and information, which is impartial, independent and reliable, sourced from all industry interfaces – sellers, buyers, agents and traders. This data is filtered and passed through very stringent, calculative assessments before final prices are derived, thereby giving our clients accurate pricing.

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Indian pellet export prices higher

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Pellets

BigMint Bureau

1317 Reads

8 Jul 2020, 19:40 IST

SteelMint's pellet index ( FoB east cost India) increased by $2/t to $99/t on Wednesday. The previous assessment was done on 1 Jul at $97/t.

-- An Odisha based pellet maker concluded around 55,000t pellet export deal for Fe 64% grade pellets with 3% Al to China at around $112/t CFR with an FoB equivalent of $100/t. This deal has been considered for price calculation and included as a T1 transaction.

-- In another export deal, South India-based pellet maker KIOCL had floated two e-tenders for export of 55,000t pellets each. These tenders were concluded at $102.5/t FOB India. But this deal was not considered for price calculation as this was not done from the east coast and was concluded for the non-southeast Asian market.

-- SteelMint received around three indicative prices in the publishing window. All three were considered for price calculation as T2 inputs with an average price of $99/t.

-- T1 includes confirmed deals while offers, bids, and indicative prices are included as T2 inputs. Both T1 and T2 categories of inputs carry 50% weightage each in price calculation for FOB price assessment.