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KIOCL (formerly Kudremukh Iron Ore Company Ltd) is planning to restart export of pellets.
“The company which had suspended export of pellets for the last two years due to domestic hindrance and statutory embargoes to not only justify of being 100 per cent EOU but also to earn foreign exchange for the country,” said Malay Chatterjee, Chairman and Managing Director, KIOCL.
The company has pellet plant and blast furnace unit at Mangalore with annual capacity to produce about 3.5 million tonnes of pellets and 2.16 lakh tonnes of foundry grade pig iron.
“KIOCL had shut its door to exports as its cost of pellets produced was not competitive in the global market due to imposition of distance based charges (DBC) by railways coupled with the grim scenario the steel industry has been facing due to the present economic environment,” said Chatterjee.
Chatterjee, who attended the 13th China International Steel & Raw Materials Conference 2013 held at Port city of Quingdao along with M.V. Subba Rao, Director-Commercial, met several experts and global company chief executives and gave presentations on KIOCL and its capabilities at the biggest congregation of mines all over the world.
Speaking on importance of China’s iron ore and steel market and its impact on prices, Chatterjee said “The current stress was on metal scrap, which can be used as a substitute for iron ore, was a hot topic at the raw material conference.”
In China, Chatterjee had discussions with Annalisa Jeffries, Associate Editorial Director, Platts McGraw Hill Financial, on building up an indigenous index for pellets in the country in line with iron and steel creating a win–win situation and stable international business for trading pellets.
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