According to the market sources, central India based major pellet maker-: Godawari Power and Ispat closed pellet sales today and is not seen offering pellets in the merchant market. As per the sources, the company had increased offers yesterday evening to INR 6,700/MT (basic, GST extra) in Raipur.
If sources are to be believed the company has closed a decent booking for the export following which it has kept its sales closed.
SteelMint’s price assessment for pellets in Raipur is heard around INR 6,600-6,700/MT (basic).
However, in the domestic market, sentiments have remained bearish and buying interest is lower than INR 200/MT than present levels.
Godawari Power and Ispat produced 0.45 MnT pellets in Q1 FY19, lesser by 9% Q-o-Q and 2% Y-o-Y. The company has observed 1.84 MnT pellet production, an increase of 23% Y-o-Y in FY’18 against 1.5 MnT in FY’17.
Godawari Power and Ispat Limited is one of the largest steel producers based in Central India and is an end-to-end manufacturer of mild steel wires. In the process, the company manufactures sponge iron, billets, Ferroalloys, captive power, wires rods (through a subsidiary company), steel wires, Oxygen gas, fly ash brick as well as pellets. The company has an installed pelletization capacity of 1.8 MnT p.a.
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