Pellet prices have witnessed stability in major parts of the country. Whereas in Southern India, prices have reduced slightly.
With Odisha based merchant miners keeping Iron ore prices unchanged and improvement in demand from Sponge iron manufacturers, Pellet makers have retained prices at similar levels. Sponge iron (P-DRI) prices in Central & Eastern India have improved considerably by INR 100-300/MT.
Pellet price for Fe 63% in Barbil is INR 5,200/MT (as per loaded into wagons). While in Raipur prices are around INR 6,500/MT (basic) respectively. On the other hand, in Southern India, Pellet prices have corrected by INR 200/MT. Current offer for Fe 60% Pellet is INR 6,650/MT (basic).
A market participant highlighted that previously Sponge iron manufacturers were anticipating reduction in Iron ore prices by merchant miners, but with Iron ore prices remaining unchanged, possibilities of Pellet preference over Iron ore have increased.
Indian Pellet Prices
|
City |
Grade | Prices |
M-o-M |
|
(Fe %) |
|||
| Barbil | 63 | 5,200* | -1,000 |
| Jharsuguda | 63 | 5,800 | -700 |
| Jamshedpur | 64 | 5,500-5,800 | -900 |
| Jajpur | 63 | 4,800-5,000 | -1,100 |
| Durgapur | 63 | 5,700 | -1,000 |
| Raipur | 64 | 6,500 | -900 |
| Vizag | 63 | 6,500 | -600 |
| Hospet | 60 | 6,650 | -400 |
Basic prices in INR/MT
* as per loaded into Wagons
Source: SteelMint Research
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