India pellet offers have increased sharply following iron ore price hike by Odisha merchant miners. Miners announced a price hike of INR 200-300/MT in both fines & lump yesterday.
Central India pellet makers raised offers by INR 200/MT – Raipur (Central India) based pellet makers have increased offers by INR 200/MT to INR 6,300/MT (Ex-Raipur) against the last week’s assessment at INR 6,100/MT. P-DRI prices are also increased sharply by INR 800-900/MT to INR 19,700-19,900/MT against INR 18,800/MT.
Durgapur pellet offers up following hike in iron ore price in Odisha – Durgapur pellet prices have witnessed increase sharply by INR 400/MT to INR 6,300/MT this week against last week’s assessment of INR 5,900/MT. P-DRI prices have also increased by INR 400/MT to INR 19,800/MT against last week at INR 19,400/MT. Major merchant iron ore miners namely Rungta Mines, Serajuddin Mines, KJS Ahluwalia, Kaypee Enterprises, KN Ram & RP Sao have announced a price hike yesterday.
No active offers from Barbil based pellet makers were reported this week.
Jindal SAW pellet offers up following sharp hike in global iron ore prices- West India (Rajasthan) based pellet maker – Jindal SAW has increased pellet prices sharply week by INR 600/MT against SteelMint’s last assessment. Current offers for Fe 63% grade pellets have moved up to INR 8,600/MT (delivered Kandla) against the previous assessment of INR 8,000/MT against the last week assessment. Jindal SAW runs a 1.5 MnT pellet plant in Bhilwara (Rajasthan).
Spot iron ore prices increased further by 10% this post Vale dam disaster in Minas Gerais state (Brazil). Fe 62% fines price increased to USD 87/MT, CFR China which was USD 79/MT, CFR a week ago. Vale underwent collapse at its dam at Corrego do Feijao mine in Minas Gerais in Brumadinho, Brazil on 25th Jan’19.
Southern India Pellet offers continue to stable – Southern India (Bellary) pellet prices have offers seem to be stable this week also to INR 6,700-6,900/MT (basic) against the last week’s assessment. P-DRI price increased to INR 19,200/MT against last week assessment INR 18,700/MT.
Indian Pellet Reference prices as on 05th Feb’19
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Jharsuguda | 63 | No offers |
| Durgapur | 63 | 6,300 |
| Jamshedpur | 63 | 5,300 |
| Raipur | 63 | 6,300 |
| Bellary | 63 | 6,700-6,900 |
| Kandla** | 63 | 8,600 |
*delivered
Source: SteelMint Research
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