Eastern India pellet prices stable on low trade volumes
Pellet prices in eastern India remain unchanged. Barbil pellet offers for Fe 63% pellets are in the range of INR 3,400-3,500/MT (loaded to wagons). Bookings from pellet sponge manufacturers continue to remain dull and pellet plants continue to operate at low capacity levels.
Recently, few Odisha based merchant miners have lowered fines prices by INR 150-200/MT. This might give some relief to the pellet makers who were struggling with unmoved fines prices and declining pellet sponge prices.
Central India pellet prices remain firm
Raipur based pellet manufacturers have held back from any changes in price variation. Prices for Fe 62% pellets continue to remain at INR 4,500/MT (basic). With less demand of pellet sponge, pellet plants in central India have also reduced their supply in merchant market.
Jindal SAW reduced pellet prices by INR 300/MT
Western India based pellet maker, Jindal SAW has reduced iron pellet offers by INR 300/MT. Prices for Fe 63% pellets are at INR 4,500/MT (delivered Kandla) and INR 4,900/MT (delivered Kandla) for Fe 65% pellets.
In order to compete with the falling imported lump offers, the pellet maker has reduced prices. Offers for imported South African Kumba lump are at USD 54-55/MT, CFR Kandla for ready stock and at USD 53/MT, CFR Kandla for shipments to arrive by end of Dec’15.
Indian Pellet Prices as on 16 Nov’15
|
City |
Grade | Prices | W-o-W | M-o-M |
|
(Fe %) |
||||
| Barbil* | 63 | 3,400-3,500 | 0 | -400 |
| Keonjhar | 63 | 3,200-3,300 | 0 | -400 |
| Jharsuguda | 63 | 3,800 | 0 | -350 |
| Durgapur | 63 | 4,300-4,400 | 0 | -150 |
| Raipur | 63 | 4,500 | 0 | -200 |
| Bellary | 62 | 4,400 | 0 | -200 |
| Kandla** | 63 | 4,500 | -300 | -650 |
Basic prices in INR/MT
* loaded to wagons
**delivered
Source: SteelMint Research
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