SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, remained stable at INR 10,200/tonne (t) DAP Raipur compared to the last assessment on 21 February 2023. Around 20,000 t of deals were reported in this publishing window. The index remained range-bound amid fall in sponge iron offers.
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 only one was taken into consideration in this publishing window and accorded 50% weightage for T1 trade.
- Eight (08) firm offers, bids and indicative prices were reported. Five (5) were taken for price calculation and given the balance 50% weightage.
- SteelMint received only one bid at INR 9,950/t DAP Raipur but not considered for index calculation in this publishing window.
Raipur-based pellets producers’ prices were stable at INR 10,200-10,500/t ($123-127/t) exw. However, a pellet maker is still out of the maket on maintenance shutdown but may offer from next week.
The hike in raw material prices post-OMC-auction led to the increase in pellet offers. However, finished steel and other semi-finished prices were down on lack of trades.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur decreased by INR 300/t w-o-w to INR 31,600/t exw. Sponge iron prices were also down by INR 400-500/t d-o-d. Limited trading activity at lower price levels were seen today. The market remained slow and demand for semi-finished and finished steel was subdued.
Region-wise offers and deals:
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