India’s Domestic Pellet Market Overview – Week 47 (Revised)

Limited trades and decline in Sponge iron prices have further pulled down offers in the domestic market

Central India Pellet Price Decline Further Amid Falling Sponge Prices

According to market sources, Central India (Raipur) pellet offers have decreased sharply by 3-month low from the last week assessment. Pellet offers from major pellet makers are around INR 7,000/MT which is INR 400-500/MT down against INR 7,400-7,500/MT last week.

Pellet prices of Central India have comes down sharply by INR 900-1,000/MT from the last two week.

P-DRI prices in Raipur have also declined by INR150/MT to INR 20,850/MT against last week assessment at INR 21,100/MT. Prices has come down amid limited trades and dull market sentiments.

Durgapur pellet prices downturn continues – Durgapur pellet price has come down significantly by INR 200-500/MT W-o-W to INR 7,100-7,300/MT.

Similarly, P-DRI prices have also declined by INR400/MT to INR 22,000/MT against last week assessment at INR 22,400/MT.

Jajpur based Brahmani River Pellet is also declined at INR 7,800/MT in Kalinganagar belt. JSPL is not offering in the domestic pellet market.

Amid falling pellet export prices, eastern India pellet makers were compelled to reduce offers in the domestic market. Indian pellet export prices have come down by USD 20/MT M-o-M.

Southern India pellet prices stable – Southern India (Bellary) based pellet makers keep the pellet prices stable to INR 7,400 (basic) in line with last week’s assessment. P-DRI prices have decline by INR 500/MT to INR 20,500/MT against INR 21,000/MT last week assessment.

Indian Pellet Reference prices as on 20th Nov’18

Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
**delivered
Source: SteelMint Research