Indian Pellet Export Prices Fall On Declining Bids from China

According to Mining News Pro -Indian pellet export prices have softened further this week further amid lowered bids from Chinese mills amid limited buying interest. As per market sources report to SteelMint, assessment for regular grade pellets (Fe 64%) with 3% Alumina is learned to have softened to USD 130-135/MT, CFR China.

However, bids from Chinese mills have continued to remain lower side by around USD 125-128/MT, CFR China. Amid disparity between bids and offers, no deals were heard to have concluded so far this week.

On weekly basis, Indian pellet export price assessment has come down by USD 5/MT.
Amidst uncertainty on sintering and production cuts in the Chinese market, Chinese mills were seen showing preference to fines than pellets. This resulted in sharp hike in spot iron ore fines.

Spot pellet premium plunge further -Spot pellet premium for Fe 65% grade pellets assessed at USD 63.85/DMT, CFR China this week, down by USD 7.5/DMT W-o-W against USD 71.35/DMT a week before. Increased supply of domestic pellets in China has turned out to be a major competitor of imported pellets resulting in falling spot pellet premium.