Metallics & Rolls team visits China for iron ore fines, iron ore pellet business
July 10, 2019
Tata International was represented by Mr Abhijit Chowdhury, Head – Metallics & Rolls, and Mr Anupam Mondal, Manager Trading – Metallics & Rolls, along with Mr Tommy Zhou, GM – Asia / Flat and Long Products, who visited China recently. The objective of the visit was to meet several leading trading entities and steel mills to discuss the iron ore fines (IOF) and iron ore pellet (IOP) business. Mr Diwaker Kureel, Steel Trader – Myanmar, was also present for a few meetings to discuss possibilities in rebar sourcing.
The business budgeted 100kt IOP shipments to China in FY20. So far it has already shipped its maiden 50kt IOP parcel in April 2019. The Chinese market is looking for low-grade IOF from India due to an increase in IOP prices in the global market and huge stock of Indian IOP in Chinese ports.
Analysing the market, the business started looking into IOF export Ex-India. Subsequently, four parcels were booked totalling 220kt. The maiden parcel was shipped in June 2019, and the balance three parcels are planned for shipment by August 2019.