Domestic pellet trades showed a mixed response after festivity with buying interest at the lower side. Trades in some regions of eastern India increased while it has decreased in central & southern part of India
— Central India (Raipur) pellet offers are mostly stable from the last week assessment. Pellet offers are around INR 8,200-8,400/MT (basic, Raipur), however, buying interest is lower by INR 300-400/MT than current offers. P-DRI prices in Raipur have increased by INR 400/MT to INR 21,900/MT against last week assessment at INR 21,500/MT.
— Southern India (Bellary) based pellet makers have decreased prices by INR 200-300/MT to INR 7,300-7,500/MT (basic) against last week assessment INR 7,600-7,800/MT. Perhaps decrease offers owing to competitive prices offer by pellet maker in Southern India (Ex- Bellary).
— Durgapur pellet price assessment has not seen any movement and it remains firm at INR 8,000-8,100/MT (delivered) in line with the last week’s assessment. Domestic sponge, billet and P-DRI prices in Durgapur have increased by INR 500-700/MT W-o-W. However, trades remained low amid festive holidays.
Indian Pellet Reference prices as on 23rd Oct’18
| Regions | Grade (Fe %) | Reference Prices (INR/MT) | Remarks |
| Durgapur | 63 | 8,000-8,100 | Super Smelter concluded a deal of 5,000 MT pellets at INR 8,000-8,100/MT. |
| Jharsuguda | 63 | 8,200 | Offers from Shyam Metaliks & Energy is assessed at INR 8,200/MT. |
| Barbil* | 63 | 7,500-8,000 | Arya Iron & Steel offers are heard at INR 7,500-7,700/MT. JSPL continues to hold the previous rate of INR 8,200/MT |
| Jajpur | 63 | 8,500 | Brahmani River is offering pellets at INR 8500/MT. The company has also floated an export tender for 60,000 MT |
| Jamshedpur | 63 | 8,000 | Usha Martin is not heard offering pellets in the market this week amid maintenance shut-down, expected to resume on 26th Oct’18. |
| Raipur | 63 | 8,200-8,400 | Buying interest still lies INR 200-300/MT lower than the current offer. |
| Bellary | 63 | 7,300-7,500 | On weekly premises, prices have weakened by INR 300/MT. |
| Kandla | 63 | No offers heard as Jindal SAW is not offering. | Last deal concluded at INR 9,750/MT, del Kandla. The company might resume offers in Nov. |
*loaded to wagons
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
Leave a Reply