Ex-India pellet prices improve marginally, but trading still silent

Friday, 21 June 2024 14:58:42 (GMT+3)   |   Kolkata

Ex-India pellet prices showed a marginal recovery, but still no deals worked out over the past week following wide bid-offer gap and mills in China heard to be preferring iron ore lumps over premium grade raw material like pellets, SteelOrbis learned from trade and industry circles on Friday, June 21.

Ex-India pellet price staged a marginal gain of $1/mt to the range of $111-113/mt CFR China and though there were no rumors of bids below the $100/mt CFR mark, unlike earlier week, bids received were still $5-8/mt lower leading to silent trade conditions.

According to market rumor, a large volume trade of 60,000 mt was supposedly concluded by an eastern region producer but neither the price nor destination were confirmed by either the seller or other market participants.

“Considering that local sales still offer about INR 1,600/mt ($19/mt) higher realization over export sales, on ex-plant basis, local producers are under no pressure to reduce price and sell overseas. Our assessment is that price improvement to levels of $120/mt CFR can only trigger exports,” a member of Pellet Manufacturers’ Association of India (PMAI) said.

“We hear that port side stocks in China are a shade below 7 million mt and this is sufficient to meet lower than usual demand from blast furnace operators and defer any immediate restocking through imports. It is a wait and watch situation for every market participant,” he said.


Similar articles

Brazil’s Samarco plans to reach full capacity utilization by 2028

20 Dec | Steel News

Ex-India pellet prices keep falling amid weak restocking by China

20 Dec | Scrap & Raw Materials

Iron pellet production in Mexico falls to 2002 levels

19 Dec | Steel News

Brazilian high-grade iron ore price declines from last week

18 Dec | Scrap & Raw Materials

India’s GPIL inks pact with GAIL India Limited for supply of natural gas for new pellet plant

17 Dec | Steel News

Ex-India pellet prices suffer setbacks, but outlook remains positive

13 Dec | Scrap & Raw Materials

Brazilian high-grade iron ore price stable from last week

09 Dec | Scrap & Raw Materials

India’s coking coal import port traffic down 8% in April-November

09 Dec | Steel News

Ex-India pellet prices and volumes surge amid revived restocking from China, outlook more bullish

06 Dec | Scrap & Raw Materials

Anglo American incorporates Vale’s Serra da Serpentina iron ore resources into Brazilian operations

04 Dec | Steel News