“Last week we had conducted auction for 50,000 Tonne pellets exports, we are expecting another online auction today. The auction that was held last week was at USD 107/MT, CFR China for Aug end or early Sept shipment.” Said an East India based exporter.
“As the Chinese Futures rose to USD 78—79/MT this week from USD 74—75/MT, we are expecting a deal to be concluded at higher by USD 2—3/MT, CFR China, whereas freight East coast of India to China is around USD 8.5 to USD 9,” confirmed the official.
The rising pellet premium which was assessed at USD 31 .5/MT, CFR China due the increased demand for Indian pellets along with shot up iron ore prices are driving the export offers for the material in India.
The global iron ore fines Fe (62%) prices have increased by USD16/MT, CFR China since the beginning of Aug to USD 80/MT. CFR China, which 8% higher over USD 74/MT, CFR China on 1st Aug, 2017.
Source Steel Mint powered by Keyvan Jafari Tehrani
