SteelMint’s bi-weekly domestic pellet (Fe 63%) index, PELLEX, stood at INR 9,100/tonne (t) DAP Raipur on 2 August, 2022, up by INR 200/t compared to the last assessment on 29 July. The index edged up due to the hike in pellet offers. However, no deals were concluded 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 taken into consideration in this publishing window and hence according 0% weightage for T1 trade.
- Five (05) firm offers, bids and indicative prices were reported. Three (03) were taken for price calculation and given 100% weightage.
As per sources, buyers in this publishing window were silent due to the increased offers and were waiting for some price correction in the upcoming days.
Pellet-based DRI (P-DRI, FeM 80%) prices in Raipur increased sharply by around INR 2,100/t w-o-w to INR 35,700/t exw. On a daily basis, sponge iron prices increased by around INR 200/t.
Indian pellet market overview
- The current assessment for iron ore pellets (Fe 63%) in Odisha’s Barbil stood stable at INR 7,000-7,200/t loaded on to wagon.
- Iron ore pellet (Fe 63%) prices in Bellary inched up to INR 9,700/t exw today as against INR 9,600/t on 29 July, as per SteelMint assessment. Confirmed deals for 11,000 t were recorded in this publishing window at around INR 9,800/t exw. Increase in sponge iron prices kept pellet demand supported.
Region-wise pellet offers and deals:
To know more about, Indian iron ore market outlook
Iron ore and pellets conference: SteelMint Events will be hosting the 5th Indian Iron Ore & Pellet Summit on 3-4 August, 2022 at The Lalit, New Delhi. The conference will discuss key issues being faced by the iron ore and pellets industry in India. The focus will be on market dynamics, policy-related changes, growth challenges and enablers, sustainability and decarbonisation goals, the way forward and many more talk points.
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