SteelMint’s bi-weekly domestic pellet (Fe 63%) index, PELLEX, stood at INR 14,000/tonne (t) DAP Raipur on 17 Mar’22, stable against the last assessment on 15 March. No deal was heard 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.
- No deal was reported and, therefore, not taken into consideration in this publishing window; likewise, accorded 0% weightage.
- Seven (08) firm offers, bids and indicative prices were reported. Seven (07) were taken for price calculation and given 100% weightage.
- SteelMint has also received three bids which were considered for calculating the index.
Raipur-based pellets producers kept offers stable at INR 14,500/t exw for Fe 63% (+/- 0.5%). However, SteelMint heard a few offers at INR 14,000/t exw. Jharsuguda-based pellet makers are not actively offering in the domestic market. However, price indications stand at INR 13,700/t exw.
The market is in festive mood and no deals were heard so far. Also, the financial year end is approaching which has seen the market remain in a standstill.
Disparity between offers and bids is still prevailing and buyers are mostly relying on DR CLO from NMDC.
Pellets-based DRI (P-DRI, FeM 80%) prices in Raipur decreased by INR 500/t to INR 40,400/t exw today on a daily basis.
Indian pellets market overview: Domestic pellets prices decreased in eastern India, while in other regions prices stayed stable ahead of the festival of Holi.
- Prices in Bellary remained stable at INR 11,000-11,100/t exw today as against 15 March. Deals for 8,000 t were confirmed in this publishing window at around INR 11,000-11,100/t exw.
- Durgapur pellet offers are heard to have decreased to INR 13,000/t exw, down by around INR 500/t.
Region-wise pellets offers and deals:
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