Indian Pellet Imports Increase in Apr'19 Amid Bookings from Iran

According to vessel line up data maintained with SteelMint, India imported 53,860 MT pellets from Iran in the month of April'19 compared to nil imports in last month. Since the data maintained with SteelMint, it's for the first time that India has imported pellets from Iran.

SteelMint in conversation with the traders learned that, due to high grade and comparatively lower pellet prices in the global market, it became cheaper substitute for the western India steel mills compared to imported south African lumps and domestic pellets.

As per sources, the deal might have been concluded approximately at around INR 8,600-8,800/MT, CNF India.

Electrotherm /SriRam Imported Pellet from Iran- Western India based company- Electrotherm had imported pellets from Iran at 53,860 MT. Its turn out to be the only importer in the month of April'19.

Prior to this shipment from Iran, all the pellet imports reported by India were from Bahrain and Essar steel was the sole pellet importer in FY19.