West India (Rajasthan) based pellet maker – Jindal SAW decreased pellet (Fe 63%) offers by INR 150/MT for the week. Current offers are at INR 7,900/MT (delivered Kandla) as against 8,050/MT (delivered Kandla) assessed last week. The pellet maker has booked an export shipment for Nov shipment and thereafter is also likely to take maintenance shutdown for a month’s time. Jindal SAW runs a 1.5 MnT pellet plant in Bhilwara (Rajasthan).
Raipur pellet offers stable on weekly premises-:
Raipur (central India) based pellet makers have kept pellet offers stable at INR 5,800/MT EXW. However no significant trade volumes were reported amid diwali holidays.
P-DRI assessment for Raipur inched up to INR 15,600- 15,800/MT (Ex-plant) towards last weekend as against INR 15,500/MT (Ex-Raipur) assessed towards the beginning of the week.
Durgapur pellet assessment down marginally:
In Durgapur SteelMint’s reference, pellet price has dropped marginally to INR 5,300/MT as against INR 5,400-5,500/MT (ex-Durgapur, GST extra), a week ago. P-DRI prices in Durgapur are currently seen increased marginally at INR 15,900-16,000/MT (Ex plant) as compared to INR 15,800/MT (Ex-plant) towards beginning of last week.
Southern India pellet offers down on a weekly basis :
Southern India (Bellary) based pellet makers witnessed a slight drop in prices to INR 6,100-6,300/MT ex-Bellary as compared to INR 6,200-6,300/MT (ex-Bellary) a week ago. Bookings for pellets remained on lower side amid holidays.
P-DRI prices in Bellary fell towards the end of last week to INR 15,900- 16,100/MT as against 16,100/MT towards the beginning of the week.
Indian pellet trade updates:
— A Hyderabad based sponge maker booked 1000 MT pellets from Bellary manufacturer at INR 6,300/MT ex-Bellary.
–Jajpur based pellet maker-BRPL is offering pellets to Kalinganagar based units at INR 5,900/MT EXW.
— Jamshedpur offers for pellets were reported at INR 5,100-5,200/MT EXW.
SteelMint pellet reference prices as on 29th Oct’19
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Durgapur | 63 | 5,300 |
| Jamshedpur | 63 | 5,100-5,200 |
| Barbil* | 63 | 5,000-5,250 |
| Raipur | 63 | 5,800 |
| Bellary | 63 | 6,100-6,300 |
| Kandla** | 63 | 7,900 |
**delivered
* Loaded to wagon
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
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