China the largest iron ore importer of the World has imported 0.59 MnT pellets in Jun’17 according to the trade data released by Chinese Customs. China pellet imports were down by 37% M-o-M against the quantity of 0.93 MnT in May’17.
The pellet imports by the country were down by 40% Y-o-Y as well for the month which were 0.98 MnT in Jun’16. However, for the first six months of 2017, China pellet imports were at 8.91 MnT 22% up Y-o-Y compared to the quantity of 7.33 MnT for the corresponding period in 2016.
Country-Wise China Pellets import in Jun’17
China mainly imports high-grade pellets from India, Australia, Ukraine, Brazil and Ukraine, etc. In May’17, India exported 0.27 MnT pellets to China and continues to remain the largest exporter of pellets to China.
India is actively exporting high-grade pellets to China in order to fulfill its pellet appetite. United States turned out to be the second largest pellet exporter with 0.10 MnT pellets in Jun’17.
Increased Pellets Export in Coming Months from India
According to an East India based exporter the demand for pellets in China is good and is likely to remain strong till Sept as Chinese steel mills are giving preference to high grade ore due to higher coking coal prices.
Month of Aug and Sep are likely to see higher quantity delivered to China according to sources as the realization are quite high at the moment and Steel Mint have assessed the Indian pellet (Fe 64/63%) export offers at around USD93-96/MT, CFR, China in the end of Jun’17 which is currently at around USD 113/MT, CFR, China for Sep end or Oct beginning deliveries.
Source Steel Mint powered by Keyvan Jafari Tehrani
