SteelMint’s bi-weekly domestic pellet (Fe 63%) index, PELLEX, stood at INR 13,300/tonne (t) DAP Raipur on 3 Mar’22, up around INR 300/t against the last assessment on 1 March. The index rebounded to a four-month high in a recent deal. Around 25,000 t of pellet deals have been reported in this publishing window.
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.
- Around 25,000 t deal reported hence taken into consideration in this publishing window, and accorded 50% weightage.
- Three (03) firm offers, bids and indicative prices were reported. All were taken for price calculation and given 50% weightage.
- SteelMint received single bid, and was given weightage in the index calculation.
Pellet-makers in Raipur raised offers by INR 1,300 to INR 14,000/t exw. Recovery in exports amidst higher global prices, active enquiries from the EU and recent trades in the domestic market have pushed up offers. However, a couple of players from Raipur and Jharsuguda aren’t offering in the domestic market this week.
SteelMint’s India pellet (Fe 63%, 3% Al) export index (FOB east coast) stands at $155.5/t, up by $2.5/t w-o-w. Chinese buying interest has not remained aggressive. However, buying inquiries from the EU have increased significantly post-ongoing trade tensions.
Pellet-based DRI (P-DRI, FeM 80%) prices in Raipur increased by INR 5,500/t w-o-w to INR 41,800/t exw compared to last week’s offers. However, on a daily basis, prices increased sharply by around INR 1,700/t today.
Indian pellets market overview: Domestic pellet prices increased by around INR 200-1,100/t w-o-w across the regions.
SteelMint’s current assessment for iron ore pellets (Fe 63%) inched up by INR 200/t to INR 11,700/t exw-Durgapur today.
Iron ore pellet (Fe 63%) prices in Bellary, Karnataka increased by INR 500 to INR 10,700/t exw today, as per SteelMint assessment.
Region-wise pellet offers and deals:
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