Indian Pellet Prices remain firm amid Weak Buying

Pellet makers have kept Pellet prices stable on the backdrop of weak buying from Sponge iron manufacturers.

Pellet makers have kept their prices unchanged as of now. Sponge iron (P-DRI) prices have fallen by INR 100-600/MT W-o-W. One of the market participants shared that prices have remain unchanged as of now & we are waiting for the miners to disclose Iron ore prices for the month of Apr’15.

Eastern India: Odisha based Pellet maker, Arya Iron & Steel is offering Fe 63% Pellets at INR 5,700/MT (loaded). Fe 63% Pellet prices in Durgapur are hovering in the range of INR 6,100-6,500/MT (basic). Pellet offers in Jamshedpur are at INR 6,000/MT (basic).

Central India: Pellet offers in Raipur are around INR 6,100-6,200/MT (basic). Sources mentioned that demand continues to remain poor which has resulted into fall in prices of semi-finished steel products. P-DRI prices have declined by upto INR 600/MT W-o-W in Central India.

Western India: Gujarat based sources shared that current Pellet offers for Fe 63% are at INR 5,600/MT (delivered Kandla) though buyers are looking for offers at lower levels.

Southern India: Pellet makers in southern India have also kept their prices unaltered. Hospet Pellet offers for Fe 60% are at INR 6,250/MT.

Indian Pellet Prices 

Basic prices in INR/MT
*as per loaded into wagons
**delivered
Source: SteelMint Research