According to the market participants report to SteelMint, Raipur (central India) based pellet manufacturers are likely to increase offers to INR 8,000/MT as against end of last week’s assessment of INR 7,000/MT (ex-Raipur, GST extra). The revised offers are likely to be effective from tomorrow (12 Feb’19).
Indian pellet prices have increased and hit 2-3 months high. Indian pellet makers are expecting hike in Indian pellet export prices. SteelMint’s has learned from the market sources that for regular grade pellet (Fe 64+/-1%, 3% alumina) export also increased by USD 9-10/MT to USD 124-125/MT, CFR China which was USD 114-115/MT, CFR China earlier last week. Prices have increased on anticipated supply shortage post Vale dam collapse.
P-DRI price assessment of SteelMint has increased sharply by INR 2,300/MT to INR 21,700/MT against INR 19,400/MT a week ago.
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