SteelMint’s bi-weekly domestic pellet index ” PELLEX ” remains stable at INR 12,100/t DAP Raipur. No pellet deal has been reported in this publishing window.
Raipur based pellet makers are holding their offers stable at around INR 12,450-12,750/t (DAP, Raipur). However, as per the market participants buying interest is much below the prevailing offers. Raigarh based pellet maker has kept the offers stable at INR 11,400/t exw.
However, buyers indicated reduction in pellet offers from Odisha by INR 400-500/t to INR 11,650/t (DAP, Raipur).
Pellet sponge (P-DRI) prices in Raipur have decreased w-o-w by around INR 400/t to INR 23,600/t ex-plant this week.
India’s largest iron ore miner – NMDC conducted iron ore e-auctions yesterday for 701,400t iron ore from its Chhattisgarh mines. Offered quantity comprised of 600,000 t of fines, 50,400 t DR CLO and rest comprised of lump and ROM. The DR-CLO lots received a good response and bids increased by around INR 1,300/t over the set base price, as it is still cost-effective than other substitutes.
Rationale – PELLEX has been derived using five data points: i.e., trades, offers, bids, substitute parity, and export realizations. You can download the detailed methodology by clicking on this link Click here
- No deal has been concluded by Raipur pellet maker in this publishing window therefore it was not considered for price calculation and weightage given 0%.
- Four firm offers from Raipur players were reported this week and only three offers were taken for price calculation at INR 12,050-12,450/t (DAP, Raipur) and the rest three from outside Raipur at INR 11,650-12,250/t (DAP, Raipur) and given a weightage of 100%.
- One firm bid was reported in this publishing window but not considered for price calculation and given 0% weightage in the index.
Region-wise pellet deals and offers:
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