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Limited Pellet Trades Reported at Chinese Ports

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Pellets

BigMint Bureau

760 Reads

27 Mar 2019, 18:44 IST

Limited Pellet Trades Reported at Chinese Ports

According to the market participants report to SteelMint, seaborne pellet demand in China continued to remain slow, however, few deals of port stocks were reported at Chinese major ports.

There were some indications heard for Indian pellet port stock being traded at RMB 920-940/MT in Chinese port, however, confirmation was still awaited on this. Few Indian pellet traders said that the market in China is still dull in terms of demand for Indian pellets.

One of the major traders in China in conversation with SteelMint said that they heard Ukrainian pellet (Fe 62.5%) traded yesterday at China port at RMB 940/MT and today they offer at RMB 960/MT.

Last deal heard from an eastern India based pellet maker for regular grade pellets Fe 64/63% grade with 3% alumina was at USD 114-115/MT, CFR China. No fresh deals were reported this week.

Spot pellet premium moves down by USD 8/MT M-o-M-: Spot pellet premium for Fe 65% grade pellets assessed last week at USD 32.3/DMT, CFR China, down sharply by USD 8/DMT against USD 40.5/DMT a month before.

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.