Indian Pellet Export Prices Remain Firm in Recent Trades

According to trade sources report to SteelMint, an Odisha (eastern India) based pellet maker has concluded two export deals for around 50,000 MT in last 3-4 days. Deals concluded are for regular grade pellets (Fe 64%, containing 3% alumina). The deal has been concluded at around USD 114/MT, CFR China for Apr'19 shipment.

A couple of weeks back, an eastern India based pellet maker had concluded deals for two cargoes carrying 50,000 MT pellets each (Fe 64/63% grade with 3% alumina) at USD 114-115/MT, CFR China.

As per reports, the two biggest steelmaking cities in China - Tangshan, and Handan have been required to continue production restrictions in the second quarter as part of local governments' efforts to improve air quality. This may keep inquiries for pellet supported.

Spot pellet premium for Fe 65% grade pellets moved up by USD 1.25/MT last week to USD 33.55/MT, CFR China.

Indian pellet exports fell 20% in Feb'19-: Indian pellet exports for the month of Feb'19 witnessed a decrease of 20% M-o-M to 0.81 MnT, as against 1.02 MnT a month before in Jan'19. KIOCL exported 0.17 MnT (Up 20%) in the month of Feb'19.