SteelMint’s bi-weekly domestic pellet (Fe 63%) index, PELLEX, stood at INR 8,400/tonne (t) up by another INR 300/t compared to the last assessment on 27 September, 2022. Decent deals were concluded at around 64,000 t in this publishing window and all were taken into consideration.
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.
- Four deals were reported in this publishing window and all were considered in this publishing window and accorded 50% weightage for T1 trade.
- Five (05) firm offers, bids and indicative prices were reported. Four (04) were taken for price calculation and given another 50% weightage.
- SteelMint received no bids in this publishing window.
Godawari Power and Ispat Ltd (GPIL) has increased domestic pellet (Fe63.5%, +/-0.5) offers by INR 300/t ($4/t) to INR 8,600/t exw ($106/t) from INR 8,300/t exw ($102/t). Confirmed deals of 30,000 t were recorded recently at INR 8,400/t exw ($103/t). Meanwhile, other Raipur-based pellet producers also increased their offers to around INR 8,100-8200/t exw.
Buyers have now started buying pellets at the prevailing prices amid the festive season. They are actively showing interest in pellets and at the same time are waiting for NMDC’s price revision which is round the corner.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur was largely stable w-o-w at INR 31,850/t exw. Prices in Raipur also remained stable for the day.
Region-wise pellet offers and deals:
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