SteelMint’s bi-weekly domestic pellet (Fe 63%) index, PELLEX, stood at INR 8,750/tonne (t), stable compared to the last assessment on 22 November, 2022. However, no pellet deals were reported in this current 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 in this publishing window and accorded 0% weightage for T1 trade.
- Seven (7) firm offers, bids and indicative prices were reported. Five (05) were taken for price calculation and given the balance 100% weightage.
- SteelMint received no bid hence not considered for index calculation in this publishing window.
Godawari Power and Ispat Ltd. has kept offers stable. Offers for pellets (Fe 63.5%, +/-0.5) stand at INR 9,300/t exw ($114/t). Other Raipur-based pellets producers are also offering at INR 8,900/t ($109/t) exw.
Domestic buyers expected pellet producers to reduce offers in the coming days as sales were slow and buying interest was limited. Post export duty withdrawal by the Indian govenment some panic sales were done by the buyers. However, export realisations are still lower than domestic offers.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur moved up by INR 600/t to INR 28,000/t w-o-w as against INR 27,400/t exw a week back. However, sponge iron prices remained stable against 24 November.
Region-wise pellets offers and deals:
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