SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, stood at INR 8,900/tonne (t), stable compared to the last assessment on 6 December, 2022. No 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 hence not considered in this publishing window and accorded 0% weightage for T1 trade.
- Nine (9) firm offers, bids and indicative prices were reported. Five (5) were taken for price calculation and given the balance 100% weightage.
- SteelMint received only one bid at INR 8,550/t DAP Raipur which was not considered for index calculation in this publishing window.
Raipur-based pellets producers kept their offers at INR 8,800-8,900/t ($106-108/t) exw. Meanwhile, Godawari Power and Ispat’s offers for domestic pellets (Fe63.5%, +/-0.5) stood at INR 9,200/t exw ($111/t) from INR 8,800/t exw ($106/t) on 28 November. No deals were recorded by SteelMint recently.
Market was silent today on falling sponge prices. However, the gap between offers and bids is still the same for buyers. Market participants are in a wait-and-watch mode. No transactions were reported this week so far.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur moved up to INR 30,300/t w-o-w as against INR 30,100/t exw on 6 December. However, sponge iron prices decreased by INR 300/t d-o-d as against INR 30,600/t exw on 12 December.
Region-wise pellets offers and deals:
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