The weekly Fastmarkets MB 65% Fe Blast Furnace Pellet Index was at $129.93 per tonne cfr China last Friday May 17, up by $1.35 per tonne from a week earlier.
Deals for Indian 64% Fe Rashmi pellet were heard at $121.50-123 per tonne cfr, although some traders expected trades to take place at $121-122 per tonne cfr.
Indian 64% Fe BRPL pellet and 64% Fe Jindal pellet were traded at $121-122 per tonne cfr, in line with estimated levels and little changed compared with a week earlier, according to sources.
However, a Chinese trader raised his offer for a cargo of Jindal pellet from $125 per tonne cfr earlier last week to $126 per tonne later, based on “better expectations on the pellet market and already picking-up port prices”.
A cargo of 64% Fe Indian KIOCL pellet traded at $115-116 per tonne fob India, while market participants expected the cfr...