India: Godawari Ispat Resumes Movement of Iron Pellets to Vizag Port for Exports - Sources
Godawari Power and Ispat Ltd (GPIL), a Raipur based iron pellet maker has resumed pellet movement for 55,000 MT to Vizag port for exports, SteelMint learned from market sources.
Company is stocking in order to make prompt shipment and deal may get conclude soon, sources told SteelMint.
GPIL has 1.8 million tonne pellet capacity in the state. Company has exported around 3-4 vessels in the last three months to South Korea and China.
Key Updates:
1.Indian state-owned pellet maker offering low Alumina (Al<=2) iron pellets at around $109-110/t FOB India, deal has not been reported yet.
2. High Alumina (Al>=3) pellet offers assessed at around $102-104/t FOB India or equivalent to $110-112/t CFR China.
3. Buying interest from Chinese mills remain subdued on rising port inventories of iron pellets.
4. Chinese pellet port stock increased from 2.2 million tonnes in Oct 2018 to 3.6 million tonnes in Dec 2018, according to industry data.
source: SteelMint
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