Central India Pellet Makers Conclude Export Deal

As per market sources report to SteelMint, Central India (Raipur) based pellet manufacturers have concluded a deal of around 40,000-45,000 MT to China. As per sources, the deal has been concluded at around USD 114/MT, CFR China.

The pellets makers have been moving the material to Gangavaram port since more than a couple of month’s time and had stockpiled it when the global prices were trading at high levels. However, the export deal for the cargo has been concluded recently.

Buying interest from Chinese steel mills has slowed down amid upcoming Chinese Lunar New year holidays which starts this week.

The pellet premium witnessed a decline of about USD 2.4/DMT, with premium at USD 39.7/DMT, CFR China which was earlier assessed at USD 42.10/DMT, CFR China.

Last week, Jindal Steel & Power Limited (JSPL) - India’s largest pellet exporter had offered 50,000 MT pellets for export and the deal was concluded the at around USD 116/MT, CFR China. The material shipment for the same is scheduled after 15th Feb'18.