Odisha’s major merchant miners namely Serajuddin Mines, KJS Ahluwalia, Kaypee Enterprises, KN Ram and Rungta mines have today announced hike in iron ore lump & fines price today by INR 400/MT (USD 6). Pending dispatches and limited material availability resulted in hike in Odisha iron ore prices. Other miners are likely to follow the suit. Following this pellet offers have also strengthened in major markets.
In Durgapur SteelMint’s reference pellet price assessment stands at INR 6,100-6,200/MT ex-plant as against last week’s pellet assessment of INR 5,900-6,000/MT (ex-Durgapur, GST extra). As per the sources, major pellet maker from Durgapur concluded around 5,000 MT pellet deal at INR 6,050/MT (EXW) yesterday.
P-DRI prices in Durgapur are currently seen at INR 17,100/MT (Ex-plant) increased by INR 300-400/MT against last week at INR 16,800/MT.
Yesterday central India based pellet makers raised offers by INR 300/MT to INR 6,600/MT EXW-Raipur. Also Raigarh and Jharsuguda pellet offers moved up by INR 200/MT against last week’s closing.
India Pellet trade log-:
— Raigarh based pellet maker has sold 5,000 MT pellet deal at INR 6,000MT (EXW) yesterday. Jharsuguda based pellet makers also increased offer by INR 200/MT to INR 5,800/MT (EXW).
— Bellary based pellet makers have sold very minimal quantity around 2,000 MT pellets at INR 6,100/MT (EXW) yesterday. Major pellet makers seem to be dispatching old pending orders.
— Durgapur based pellet maker concluded around 5,000 MT pellet deal to local sponge maker at INR 6,050/MT (EXW) yesterday. Though Durgapur pellet offers increased to INR 6,100-6,200/MT today.
— Few days back pellet deals for around 25,000 MT bought by Raipur and Durg sponge makers from local pellet makers at INR 6,200-6,300/MT(Ex-plant).
SteelMint pellet reference prices as on 17th Dec’19
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Durgapur | 63 | 6,100-6,200 |
| Barbil* | 63 | 5,400-5,600 |
| Jamshedpur | 63 | 5,700-5,800 |
| Raigarh | 63 | 6,000 |
| Bellary | 63 | 6,100-6,300 |
| Jajpur | 63 | 6,300 |
| Kandla** | 63 | 8,150 |
**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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