Indian iron ore pellet export offers have increased slightly, supported by tight supplies even though the number of deals remained limited during the past week, with Chinese steel mills yet to start active restocking raw materials after recent extended holidays, SteelOrbis learned on Friday.
Chinese steel mills are yet to firm up production levels after the holidays as in several regions the full workforce ıs yet to return to work, but Indian pellet producers have increased offer levels on the back of the positive outlook and at least two deals have been concluded at higher-than-average prices with exporters starting to look at April deliveries.
Market sources said citing reports in the market that Brahmani River Pellets Limited (BRPL) has concluded a deal for 40,000 mt for April delivery at $128/mt CFR China during the past week for high grade pellets with alumina content of less than two percent.
Jindal Saw Limited has signed a deal at $127/mt CFR China for end-of-April delivery, which is higher than a deal concluded by the same exporter at $125/mt CFR a week ago.