Iron and Steel

South Korean Mills Aggressively Book Indian Pellet Cargoes

South Korean Mills Aggressively Book Indian Pellet Cargoes
Mining News Pro - South Korean steel mills have continued to book Indian pellet cargoes as reported by market participants to SteelMint
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According to Mining News Pro -South Korean steel mills have continued to book Indian pellet cargoes as reported by market participants to SteelMint. According to sources, an Indian trader has recently concluded a pellet export deal at around USD 145-146/MT, CFR South Korea. SteelMint has learned that around four cargos for pellets have been booked this month by South Korean steel mills so far. They are aggressively looking for pellets.

As per the sources, India Pellet export prices for China raised to around USD 145-50/MT, CFR China. Last deals from Indian pellet makers have concluded at USD 145-146/MT, CFR China for regular grade.

Spot pellet premium continues to surge - Spot pellet premium for Fe 65% grade pellets assessed at USD 84.2/DMT, CFR China this week up by USD 7.35/DMT W-o-W against 76.85/DMT a week before. Pellet premium this week has reached record high levels.

Earlier, Southern India based pellet maker - KIOCL had floated pellet export tender for 50,000 MT with 64% Fe content and less than 2% alumina content. According to sources, the tender has been concluded at around USD 145/MT, FoB India.

Indian Pellet Exports to South Korea Increase-: According to the vessel line up data maintained with SteelMint, in the first seven months (Jan-Jul) of CY’18 Indian pellet export South Korea increased by 7% Y-o-Y to 0.29MnT against 0.27MnT in the same period last year (Jan-Jul’17). In the month Jul18 India pellet export to South Korea increased by 20% M-o-M to 0.06MnT against 0.05MnT in Jun’18. China remains the highest importer of Indian pellets with 0.39MnT in Jul’18.


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