Pellet demand continues to remain weak over thin trade and falling prices of pellet sponge.
Continuous downtrend in P-DRI prices and weak demand continues to impact domestic pellet market. P-DRI prices in eastern India have declined by upto INR 200/MT W-o-W. In Barbil, pellet prices for Fe 63% are in the range of INR 4,300-4,400/MT (loaded to wagons). While, in Durgapur pellet prices have shown reduction of INR 150/MT W-o-W.
“Pellet prices in eastern India have fallen by upto INR 450/MT in last one month. This has build pressure in pellet market in Central India too. Also, falling sponge iron prices have resulted into thin trades” – stated a Raipur based pellet maker.
In southern India Pellet prices remain stable at INR 5,200/MT (basic). Market participants mentioned that with imported iron offers being costly, sponge makers in southern India are likely to prefer domestic ore over imported ones.
In western India, pellet offers remain stable at INR 5,600-5,700/MT (delivered, Kandla).
Indian Pellet Prices
|
City |
Grade | Prices | W-o-W | M-o-M |
|
(Fe %) |
||||
| Barbil* | 63 | 4,300-4,400 | 0 | -300 |
| Keonjhar* | 63 | 4,200-4,300 | 0 | -450 |
| Jamshedpur | 63 | 4,700 | 0 | -300 |
| Raipur | 64 | 5,600-5,900 | -200 | -250 |
| Durgapur | 63 | 4,700-5,000 | -150 | -300 |
| Bellary | 62 | 5,200 | 0 | -450 |
| Kandla** | 63 | 5,600-5,700 | 0 | 0 |
Basic prices in INR/MT
*as per loaded into wagons
**delivered
Source: SteelMint
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