After recent hike in iron ore prices, pellet manufacturers in central and eastern India have raised their pellet offers.
Odisha based major merchant miners namely – Rungta Mines, KJS Ahluwalia and Kaypee Enterprises have raised iron ore prices from yesterday. The miner has raised fines prices by INR 200/MT. Iron ore prices in Odisha have moved up due to the rake availability issues, hike in P-DRI prices and less availability of iron ore.
The scarcity of iron ore has led to people shifting towards pellet and consecutively is resulting in increased demand for pellets.
Following this, Durgapur based pellet offers are now assessed at INR 6,000-6,100/MT which were at INR 5,800-5,900/MT towards the beginning of this week.
P-DRI prices continues to remain on the uptrend. In Durgapur (P-DRI, 78 FeM) prices increased by INR 1000/MT in a week’s time and is presently assessed at INR 18,000/MT (delivered).
Central India based pellet makers raise offers after NMDC price hike –
India’s largest Iron ore miner NMDC has increased iron prices by 13% for Dec’17 deliveries. The miner has raised fines prices by INR 200/MT.
Following this Raipur based major pellet makers have raised offers by INR 200/MT to INR 6,000/MT (basic). Towards the beginning of the week, the offers were hovering around INR 5,800/MT (basic).
P-DRI prices increased further in Raipur. In Raipur (P-DRI, 80 FeM) prices increased by INR 1100/MT in a week’s time and is presently assessed at INR 18,500/MT (ex-plant).
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