Falling P-DRI Prices Keep Domestic Pellet Offers Under Pressure

Durgapur pellet offers down W-o-W
In Durgapur (eastern India) reference pellet price assessment stands at INR 6,600-6,700/MT (delivered) as against previous assessment at INR 6,800/MT. However, on weekly basis prices fell sharply compared to INR 7,000-7,100/MT towards beginning of last week. Reduced demand and falling sponge prices have pulled down the prices.

P-DRI prices have declined W-o-W at Durgapur to INR 17,400-17,600/MT as against INR 18,400-18,600/MT assessed last week.

Central India pellet makers offer stable; no trades reported
Central India pellet offers for this week witnessed at INR 6,800/MT (ex-Raipur, GST extra). The prices depicted stability on weekly basis. However, last week amid fall in sponge prices the pellet manufacturers dropped prices to INR 6,800/MT (ex-Raipur, GST extra) as against INR 7,000/MT (ex-Raipur, GST extra) towards beginning of week. As per market participants pellet demand and buying interest is on the lower side.

P-DRI price declined to INR 17,200/MT- 17,400/MT this week as compared to INR 18,100-18,300/MT (basic) a week ago.

Jindal SAW Pellet offers remain firm
West India (Rajasthan) based pellet maker – Jindal SAW pellet offers remain stable on weekly basis at INR 8,900/MT (delivered Kandla). Jindal SAW runs a 1.5 MnT pellet plant in Bhilwara (Rajasthan).

Southern India pellets offer inch down
Southern India (Bellary) based pellet makers have decreased pellet offers marginally to INR 7,000-7,200/MT as compared to last week assessment at INR 7,150/MT. P-DRI prices also decreased by INR 500-700/MT to INR 17,900-18,100 this week against INR 18,600/MT assessed previous week.

Indian pellet trade updates-:

— Southern India based Janki Corp is offering Fe 63% grade pellets at INR 7,100/MT (ex-plant) in Bellary.

SteelMint pellet reference prices as on 11th Jun’19

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