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Jindal Steel's Auction for 50,000 MT Pellet Export

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Pellets

BigMint Bureau

510 Reads

2 Nov 2017, 10:34 IST

Jindal Steel's Auction for 50,000 MT Pellet Export

India's largest pellet exporter - Jindal Steel & Power (JSPL) has offered 50,000 WMT pellets for export via online auction. The auction is scheduled to take place today i.e. 02 Nov'17. The export shipment is for end Nov laycan.

Last week on 27 Oct'17 Jindal Steel & Power floated pellet export deal for about 50,000 MT. As per sources the tender was concluded at around USD 119/MT, CFR China.

Spot pellet premium for Fe 65% grade pellets has increased this week to USD 59/MT, CFR China against last week's assessment of USD 56.3/MT, CFR China. Pellet premium has increased on strong steel margins and environmental restrictions in China.

According to SteelMint stats, JSPL exported 0.94 MnT pellets from Apr-Sept'17 and has by far remained India's largest pellet exporter followed by BRPL and KIOCL. In previous fiscal, JSPL exported 2.29 MnT pellets.