Iron Pellet producers located in the Southern part of India have maintained the price levels similar to the week before.
Prevailing Pellet Prices:
Fe 62 Rs 6,950-7,200/MT, Up by Rs 50/MT
Fe 60 Rs 6,200/MT, down by Rs 100/MT
Ex works Prices
“We are selling Pellets at quiet low prices, which have already bottomed out.
Offers should not fall below this level as it will not be workable for us.
Iron ore prices in Karnataka e-auctions are not coming down, keeping our cost of production still high.
Rains have also impacted trading volumes in finished steel products, ultimately keeping buyers away from procuring Pellets in large quantities”, remarked Bellary (Karnataka) based Pellet manufacturers.
“Upward movement in Bellary Sponge iron prices by Rs 400/MT in last one week have supported Pellet prices to stand firm this week.
Though, it is being difficult to make predictions on price movement, they do not have room for any further drop in the beginning of July.
Pellet offers might face some a marginal addition in the week to come, provided Sponge iron prices give support”, they added.
Raipur (Chhattisgarh)
“We have received good number of booking orders at Rs 7,8000/MT (ex works) and hence, decided to maintain the price level for the current week.
Any further changes in Pellet offers will be made in the first week of July only as we are not in a hurry to sell presently”, said Pellet maker located in Central part of India.
Tatanagar (Jamshedpur)
“Demand for Pellet is very slow and market is not good as of today.
Looking at the same, we had to cut prices further by Rs 400/MT to Rs 6,800/MT (ex works) for this week”, shared Pellet producer at Tatanagar.
For more details, contact
Seema Goenka
(seema@steelmint.com)
Leave a Reply