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 24 February 2023. Around 20,000 t of deals were reported in this publishing window.
Rationale:
- PELLEX has been derived using data points, i.e. trades, offers and bids. To download the detailed methodology,Click here.
- One deal was reported but not taken into consideration in this publishing window and accorded 0% weightage for T1 trade.
- Ten (10) firm offers, bids and indicative prices were reported. Seven (7) were taken for price calculation and given the balance 100% weightage.
- SteelMint received only two bids at INR 9,900/t DAP Raipur but were not considered for index calculation in this publishing window.
Raipur-based producers kept prices stable today at INR 10,200-10,500/t ($123-127/t) exw. However, the market is silent and limited deals were concluded this week so far.
As per souces, buyers are mostly using iron ore lump from outside Raipur. NMDC’s prices revision is round the corner and so buyers are more cautious about concluding deals.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur decreased by INR 400/t w-o-w to INR 31,700/t exw. However, sponge iron prices inched up by INR 100/t d-o-d. The market remained slow and demand for semi-finished and finished steel was subdued.
Region-wise offers and deals:
Leave a Reply