Iron and Steel

Indian Pellet Maker Concludes 55,000 MT Export Deal to China; Prices Move Up

Indian Pellet Maker Concludes 55,000 MT Export Deal to China; Prices Move Up
Mining News Pro - An eastern India (Odisha) based pellet maker- Brahmani River Pellets (BRPL) has recently concluded a pellet export deal for around 55,000 MT for regular grade pellets (3% Alumina). According to the sources, the deal has been concluded at USD 154/t, CFR China for September shipments.
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According to Mining News Pro -An eastern India (Odisha) based pellet maker- Brahmani River Pellets (BRPL) has recently concluded a pellet export deal for around 55,000 MT for regular grade pellets (3% Alumina). According to the sources, the deal has been concluded at USD 154/t, CFR China for September shipments.

Brahmani River Pellets Ltd operates a 4 MnT pellet plant at Jajpur in Odisha and is planning to upgrade the quality of products churned by the plant. BRPL, co-owned by Thriveni Pellets Pvt Ltd and JSW Techno Projects Ltd, is reported to be producing 10,000 tonnes of pellets each day in August, bettering its previous normative run rate of 7500 tonnes.

BRPL stood second largest in the list of Indian pellet exports in FY’18 at 1.70 MnT. In the month of Aug’18 Company has exported pellet at 0.15 MnT.

Due to strict governmental regulations in China, steel mills prefer high-grade ore and mills are heard stocking the material beyond the production needs. Besides, Chinese winter production cuts are expected to start from 1st Oct this year against 15th Nov last year. This has added to Indian Pellet demand in the global market.

This week, southern India based pellet maker - KIOCL had concluded a pellet export tender for around 50,000 MT consisting of 64% Fe content and less than 2% alumina. According to sources, the deal had been concluded at around USD 148/MT, FoB India for October shipment. High-grade Indian pellets (with lower alumina content) are becoming a great source of interest for overseas buyers.

Spot pellet premium keeps soaring- Spot pellet premium for Fe 65% grade pellets is also witnessed increase and is assessed at USD 89.55/DMT, CFR China, up by USD 2.05/DMT W-o-W against USD 87.5/DMT a week before.

 


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