SteelMint’s bi-weekly domestic pellet (Fe 63%) index, PELLEX, stands at INR 9,500/tonne (t) DAP Raipur on 7 Dec’21, stable against the last assessment on 3 Dec. Confirmed deals of around 28,500 t were reported at around INR 9,400-9,600/t DAP Raipur in this publishing window.
Central India-based pellet makers have kept offers stable. Current offers are at INR 9,500-9,800/t exw-Raipur. However, sellers in Odisha’s Jharsuguda increased offers by around INR 500/t after news of a few export bookings were reported from eastern India.
SteelMint’s assessment for sponge iron, P-DRI (FeM 80%), in Raipur stood at INR 27,000/t exw, down sharply by around INR 1,900/t against last week. However, on a daily basis, prices increased by INR 200/t.
As per sources, supplies of DR-CLO from NMDC have continued to remain on the lower side, as a result of which Raipur buyers will perhaps try to secure more pellets.
Indian pellet market overview: The Indian pellet market witnessed mixed trends at the various pellet producing regions.
Bellary iron ore pellet (Fe 63%) prices dropped to INR 9,500-9,600/t against INR 10,000-10,200/t assessed on 3 Dec. However, prices in eastern India rose by around INR 200-400/t.
Rationale:
- PELLEX has been derived using data points: i.e. trades, offers and bids. You can download the detailed methodology by clicking on this link Click here.
- Two deals were reported, for around 28,500 t, in this publishing window and , hence, considered as T1 trade for calculation of the index; accorded 50% weightage.
- Six (06) firm offers and indicative prices were reported. Five (05) were taken for price calculation and given 50% weightage.
- SteelMint received no bids for calculation of the index.
Region-wise pellet offers and deals:
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