Domestic pellet trades in India continued to remain low with buying interest lower than current offers. Trades in eastern India are likely to remain suspended amid Dusherra holidays.
Central India: Buyers eye for lower pellet offers, sellers continue to hold
According to market sources, Central India (Raipur) pellet offers have decreased further from the end of last week. Pellet offers from major pellet makers are around INR 8,400-8,500/MT, however, buying interest is lower by INR 300-400/MT than current offers. Present assessment for Fe 63% pellets is at INR 8,200-8,400/MT (basic, Raipur) against INR 8,500-8,700/MT (basic) at last week. Buying interest is still weak and lower than the offer prices.
P-DRI prices in Raipur have also declined sharply by INR 1,000/MT to INR 21,500/MT against last week assessment at INR 22,500/MT.
Southern India pellet makers decreased offers following a decline in pellet sponge prices:
Southern India (Bellary) based pellet makers have decreased prices by INR 200-300/MT to INR 7,600-7,800/MT (basic) against last week assessment INR 8,000-8,200/MT.
P-DRI prices have also decreased by INR 1,300/MT to INR 20,800/MT against last week assessment at INR 22,100/MT.
Durgapur based pellet market silent amid festivity-:
Durgapur pellet price assessment has not seen any movement and it remains marginally unchanged to INR 8,000-8,100/MT (delivered) in line with the last week’s assessment.
P-DRI prices in Durgapur have also remained unchanged to INR 21,400in line with the last week’s assessment.
Indian Pellet Reference prices as on 16th Oct’18
| Regions | Grade (Fe %) | Base Prices INR/MT |
| Durgapur | 63 | 8,000-8,100 |
| Barbil* | 63 | 8,000 |
| Jamshedpur | 63 | 7,700-7,800 |
| Raipur | 63 | 8,200-8,400 |
| Bellary | 63 | 7,600-7,800 |
| Kandla | 63 | No offers heard as Jindal SAW is not offering on low stocks and export bookings. |
*loaded to wagons
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
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