India’s domestic pellet market mostly stable on weekly basis except Ex-Bellary based pellet assessment decreased marginally to INR 6,100-6,200/MT this week against last week at INR 6,100-6,300/MT.
Recent pellet trades in Indian pellet market-:
— Deals of 7,000-8,000 MT pellets reported from Raipur market at INR 5,800/MT(Ex-Raipur); normalizing for freight to Raipur at INR 5,950/MT (DAP Raipur). These deals were concluded to Durg and Chandrapur (Maharashtra).
— Raigarh based pellet maker has concluded around 7,000-8,000 MT pellet deal at around INR 5,500/MT(Ex-Raigarh) in the local market yesterday.
— Odisha based steel mill booked 130,000 MT pellets from Odisha based pellet makers at INR 5,200/MT(Loaded to wagons).
— High trade volumes of pellets reported over 53,000 MT by South-based pellet makers in last one week at around INR 6,100-6,200/t (EXW-Bellary). One major pellet maker from Bellary concluded around 20,000 MT pellet to Gujarat based steel mills at INR 6,200/MT(EXW-Bellary) and freight for Gujarat is around 1,500/MT.
— Durgapur market reported around 13,000 MT pellet deals at around INR 5,300-5,400/MT in the last couple of days.
— Jamshedpur based pellet maker was also sold around 5,000 MT pellet deal last week at INR 5,200-5,300/MT (Ex-plant).
— Odisha based pellet maker concluded total 20,000-25,000 MT pellet deal at INR 5,200/MT (Loaded) in the local market.
SteelMint pellet reference prices as on 05th Nov’19-:
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Durgapur | 63 | 5,300-5,400 |
| Jamshedpur | 63 | 5,100-5,200 |
| Barbil* | 63 | 5,000-5,200 |
| Raipur | 63 | 5,800 |
| Bellary | 63 | 6,100-6,200 |
| Kandla** | 63 | 7,900 |
| Jajpur | 64 | 5,900 |
**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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