SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, stood at INR 10,350/tonne (t) DAP Raipur, a rise of INR 650/t compared to the last assessment on 13 January, 2023. However, no active deals have been recorded at current offers.
Rationale:
- PELLEX has been derived using data points, i.e. trades, offers and bids. You can download the detailed methodology by clicking on Click here.
- No deal was reported and considered in this publishing window and accorded 0% weightage for T1 trade.
- Six (06) firm offers, bids and indicative prices were reported. Five (05) were taken for price calculation and given the balance 100% weightage.
- SteelMint received no bids for index calculation in this publishing window.
Raipur-based pellet producers hiked their offers by around INR 300-500/t to INR 10,100-10,200/t ($123-$125) exw. Godawari Power and Ispat Ltd (GPIL) increased domestic pellets (Fe63.5%, +/-0.5) offers by INR 400/t ($5/t) to INR 10,500/t exw ($129/t) on 16 January from 10,100/t exw ($124/t).
Prices witnessed an increase after a strong response in today’s Odisha Mining Corporations’ (OMC’s) iron ore auction where 587,000 t, or 90.44% of the total quantity of 649,000 t, received bids. Bid prices in today’s auction rose by up to INR 1,300/t compared to last month’s auction. As reported earlier, OMC had increased base prices up to INR 1,250/t for the fines auction.
Buyers were mostly away from the market as they were watching out for OMC’s auction.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur increased by INR 800-900/t w-o-w to INR 32,550/t. However, sponge iron prices were down by INR 400/t d-o-d.
Region-wise offers and deals:
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