SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, stood at INR 10,200/tonne (t) DAP Raipur, increasing by INR 100/t compared to the last assessment on 17 February 2023. Around 15,000 t of deals were reported in this publishing window. Trade volumes decreased slightly this week in comparison to the previous week.
Rationale:
- PELLEX has been derived using data points, i.e. trades, offers and bids. To download the detailed methodology, Click here.
- Two deals were reported and both were taken into consideration in this publishing window and accorded 50% weightage for T1 trade.
- Ten (10) firm offers, bids and indicative prices were reported. Eight (8) were taken for price calculation and given the balance 50% weightage.
- SteelMint received only two bids at INR 9,650-9,950/t DAP Raipur and only one was considered for index calculation in this publishing window.
Raipur-based pellets producers increased offers yesterday by INR 300/t to INR 10,200-10,500/t ($123-127/t) exw from INR 9,900-10,200/t ($120-123/t) exw.
This week, some buyers turned active and concluded few deals before the price hike by Raipur manufacturers. Post the OMC auction, pellets offers increased sharply across the regions. However, limited deals were reported at these prices so far this week.
Buyers are reluctant to do any deal at increased levels as trading in sponge and semi-finished steel is limited.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur increased by INR 800/t w-o-w to INR 32,100/t exw. Sponge iron prices inched up by INR 150/t d-o-d.
Region-wise offers and deals:
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