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. No deal was reported in this publishing window due to low buying interest. Market participants are currently in wait-and-watch mode.
Rationale:
- PELLEX has been derived using data points, i.e. trades, offers and bids. To download the detailed methodology, Click here.
- No deal was reported in this publishing window and accorded 0% weightage for T1 trade.
- Ten (7) firm offers, bids and indicative prices were reported. Four (4) were taken for price calculation and given the balance 100% weightage.
Raipur-based producers kept prices stable today at INR 10,200-10,500/t ($123-127/t) exw. However, the market is silent and no deals were concluded this week so far.
NMDC’s price revision is round the corner and so buyers are more cautious about concluding deals. They are in a wait and watch mode till the upcoming Holi festival.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur increased by INR 200/t w-o-w to INR 31,800/t exw. However, sponge iron prices inched down by INR 50/t d-o-d. The market remained slow and demand for semi-finished and finished steel was subdued.
Region-wise offers and deals:
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