West India (Rajasthan) based pellet maker – Jindal SAW has raised recently raised pellet prices by INR 300/MT. Current offers for Fe 63% grade pellets have moved up to INR 6,700/MT (delivered Kandla) against previous assessment of INR 6,400/MT.
Global iron ore prices have increased by 7% W-o-W to USD 73/MT, CFR China yesterday.
Jindal SAW runs a 1.2 MnT pellet plant in Bhilwara (Rajasthan). The pellet maker is likely to take maintenance shutdown by around mid of January. Gujarat based steel mills have actively booked vessels for lump import from South Africa to compensate with limited domestic material availability.
Central India pellet buying turns dull amid fall in P-DRI prices – Central India (Raipur) pellet offers have come under pressure after recent decline in P-DRI prices. Although pellet manufacturers have kept offers unchanged at INR 6,000/MT, but buying interest is seen lower by INR 100/MT than current offers.
P-DRI prices in Raipur are assessed at INR 18,400-500/MT (ex-plant), lower by INR 300/MT than yesterday.
Trade-wise
1. Barbil based pellet maker – JSPL is offering pellets at around INR 5,400/MT (loaded to wagon)
2. Jharsuguda based pellet maker sold about 3,000 MT pellets at INR 5,800/MT
3. Durg based pellet maker – Raipur Power & Steel is offering pellets at around INR 5,800/MT (ex-Durg)
Indian Pellet Reference Prices as on 5 Dec’17
|
City |
Grade (Fe %) | Basic Prices in INR/MT |
| Barbil* | 63 | 5,400 |
| Durgapur | 63 | 6,100 |
| Raipur | 63 | 5,900-6,000 |
| Jharsuguda | 63 | 5,800 |
| Jamshedpur | 63 | 5,600-5,700 |
| Bellary | 63 | 6,200-6,500 |
| Kandla** | 63 | 6,700 |
Prices (GST extra) mentioned are for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
*Loaded to Wagon
**delivered
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