On January 15, SteelOrbis reported Indian pellet export offer deals at $110-112/mt CFR China for regular grade pellet with 3 percent alumina which translated to approximately $102-104/mt FOB.
Indian pellet export offers were reportedly at $105-109/mt FOB. Sources now inform SteelOrbis that prices dipped slightly below $100/mt FOB in the third week in January but are now “seeking to rebound” to mid-January levels. Offers are now reportedly at $103-106/mt FOB, down $2/mt from the bottom of the previous range and $3/mt from the top of the same range. A source noted that Indian pellet makers have recently concluded export deals with Chinese buyers. Additionally, Indian pellet export prices may rise as a result of the iron ore supply disruption in Brazil.