“Indian pellet export offers have come down to USD 100-101/MT, CFR China; we may come out with export tender next Week” confirmed an East India based exporter, “offers have dropped over fall in global prices.” He added.
The global iron ore fines Fe (62%) prices fell today to USD 73/MT, CFR China, Which Were same On grd Aug, 2017.
Pellet offers have Come down as iron ore indeX Was down. Last Deal from India Was heard at 101-102/MT, CFR China in early August. However demand for Indian pellet still persists. These quotes have been understood to be applied for the Sept end or early Oct’17 deliveries.
The Chinese buyers unsure of turning of market over the reduced demand of Seaborne iron Ore and have kept the buying on hold whereas sellers are holding offers in a hope of prices rebound.
Currently stable pellet premium, Fe 65% at USD 29.5/MT CFR, China is also considered a major cause for lowered export offers from India. The falling steel prices as well have the demand for iron ore and pellets further.
Source Steel Mint powered by Keyvan Jafari Tehrani
