According to market sources report to SteelMint, an East India (Odisha) based pellet maker is to export about 29,000 MT pellets to Malaysia. According to customs data maintained with SteelMint, the vessel named ‘Rojarek Naree’ is expected to arrive at Paradip port on 11 May’18.
As per sources the deal has been concluded at around USD 107/MT, CFR basis, considering freight of USD 7-8/MT.
West India based pellet maker to export 55,000 MT pellets to South Korea
According to market sources report to SteelMint, Jindal SAW – a west based pellet maker is heard to have concluded export deal of 55,000 MT pellet to South Korea. The material is likely to be shipped to South Korea in 1st half of June.
Currently Jindal SAW pellet offers in domestic market are around INR 6,650/MT (delivered Kandla), unchanged against last week.
Domestic pellet prices in eastern India remains intact; falls in central India
Domestic pellet prices in eastern India witnessed upward trend again this week. On the contrary, southern and central India pellet prices depicted decline W-o-W.
However, in Durgapur (eastern India) pellet price assessment witnessed in line with offers a week before. However market participants reported slow down in trades today against yesterday. Reference pellet price assessment for Durgapur stands at INR 6,000-6,100/MT (delivered) this week. P-DRI prices have decreased sharply by INR 500/MT to INR 21,000/MT (delivered) against last week’s assessment at INR 21,500/MT.
Jharsuguda based pellet maker – Shyam Metaliks & Energy is not offering material in merchant market owing to increased captive consumption. Besides Usha Martin (Jamshedpur) are also not actively offering for now and will start offering material from 11th of May.
However, in central and southern Indian markets, pellet prices have declined by around INR 50/MT W-o-W to INR 5,900-6,000/MT (ex-Raipur). This is due to downtrend in P-DRI market as against previous week. The P-DRI prices in Southern India (Bellary) has decreased by INR 200/MT to INR 18,700/MT and has declined by INR 300/MT in central India (Raipur) to 19,750/MT.
Indian Pellet Reference prices as on 8th May’18
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Barbil* | 63 | 5,500 |
| Durgapur | 63 | 6,000-6,100 |
| Jamshedpur | 63 | 5,400-5,500 |
| Raipur | 63 | 5,900-6,000 |
| Bellary | 63 | 6,700-6,800 |
| Kandla** | 63 | 6,650 |
*loaded to wagons
**delivered
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
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