Domestic pellet prices in eastern and central India continue to remain under pressure witnessing fall of up to INR 100-200/MT W-o-W. However, in southern and western India pellet prices have remained unchanged.
Central and eastern India based market participant’s shared dull buying interest in pellets. Pellet offers in Raipur (central India) are heard at around INR 6,700/MT (basic). However, trade sources reported thin buying interest at these levels. SteelMint’s Reference pellet price assessment in Raipur is heard around INR 6,600-6,700/MT(Basic, GST extra). Buyers are eyeing for lower offers than the present levels.
Indian domestic pellet market update: Week 10
1. Reference pellet price assessment for Durgapur stands at INR 6,100-6,200/MT this week. P-DRI prices have increased sharply at INR 21,500/MT, increased by INR 550/MT on weekly basis. However domestic pellet prices remained unchanged.
2. Southern India (Ex-Bellary) based pellet manufacturers have kept pellet offers firm this week amid increasing P-DRI and billet prices. Current price assessment for Fe 63% grade pellets is heard around INR 7,200 (ex-Bellary) same as last week no change has been noticed this week. Trade sources also reported deals to have concluded at these levels in small quantities.
3.Jindal SAW pellet offers remain unchanged at INR 7,200/MT (delivered Kandla). As per market sources, the pellet maker has resumed production after a maintenance shutdown.
Indian Pellet Reference prices as on 06th Mar’18-:
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Barbil* | 63 | 5,500-5,600 |
| Durgapur | 63 | 6,100-6,200 |
| Jamshedpur | 63 | 5,300-5,500 |
| Raipur | 63 | 6,600-6,700 |
| Bellary | 63 | 7,200 |
| Jharsuguda | 63 | 6,000 |
| Kandla** | 63 | 7,200 |
*loaded to wagons
**delivered
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
Leave a Reply