SteelMint in conversation with market participants learned that central India based pellet manufacturers have increased their offers to INR 6,600/MT (ex-Raipur, GST extra) for Fe 63% grade. Last offer floated was at INR 6,400/MT (ex-Raipur, GST extra). Thus offers have up by INR 200/MT.
It is to be noted that no significant deal has been reported at the current offer of INR 6,600/MT. Industry sources confirmed deals to have concluded at INR 6,400/MT (ex-Raipur) and very minimal deals at INR 6,500/MT.
As per the market participants, two major pellet makers are not offering pellets in the domestic market and have kept sales closed amid export bookings made in previous weeks. Perhaps that’s the reason why other pellet makers increased offer.
Raigarh based Monnet Ispat & Energy has also raised offers and are quoting INR 6,400/MT (Ex-plant). Decent quantity deals were reported at the previous offer of INR 6,200/MT (Ex-plant).
P-DRI price in Raipur have inched up today by INR 50/MT to INR18, 500-18,600/MT (basic) compared to INR 18,500/MT yesterday.
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