Limited Inquiries Weigh Down Indian Pellet Export Prices

Indian pellet export price assessment has decreased on low-buying and high steel inventories in China.

SteelMint's Indian pellet export price assessment has come down this week by USD 4/MT to USD 116/MT, CFR China as against the last assessment of USD 120/MT, CFR China. However, no deal was reported.

India's KIOCL had floated pellet export tender which was due on 04 Mar'20 at 14:00 hrs.

One of the traders revealed in the condition of being anonymous that they had tried to conclude the pellet export deal but no bids were received. In further conversation with him, he informed us that if the earlier deal which was done in the last couple of weeks does not meet the deadline than the renegotiation process cannot be ruled out.

Due to the weak demand and coronavirus outbreak in China, inquiries have slowed down. Piling up steel inventories with the Chinese mills is also a matter of concern.