SteelMint in conversation with market participants learned that Raipur (Central India) based pellet manufacturers have today reduced offers to INR 6,300/MT (ex-Raipur, GST extra) for Fe 63%. Last offer floated was at INR 6,700/MT (ex-Raipur, GST extra). Thus offers have come down by INR 400/MT (USD 6).
A deal for around 10,000 MT pellets was confirmed to have concluded at previous offer of INR 6,700/MT (Ex-Raipur, GST extra). Major pellet buyers are still expecting to buy at lower rate than the current offers.
Yesterday SteelMint reported that a Raigarh based pellet maker is learned to have lowered pellet offers to INR 5,800/MT (ex-Raigarh) so landed to Raipur was around INR 6,500/MT.
This had kept Raipur pellet prices under pressure.
In a month’s time, Raipur pellet offers have come down by around by INR 1300/MT.
Lowered realizations in pellet exports and declining sponge and semi-finished prices compelled pellet makers to reduce offers in the domestic market.
P-DRI prices in Raipur are assessed at INR 18,500-18,700/MT (Ex-plant) against the last week assessment at INR 18,900/MT.
Pellet makers in Bellary lower offers- Southern India (Bellary) pellet offers for Fe 63% grade fall to INR 7,000-7,100/MT (basic) against last assessment at INR 7,100-7,200/MT beginning of this week.
Leave a Reply