Domestic pellet prices continue to remain stable this week across major markets except southern India where prices have fallen amid decline in pellet sponge prices. East India pellet manufacturers concentrate on export orders at USD 68-72/MT FoB India.
Domestic pellet scenario in India: Week 20 updates
- Barbil based pellet maker-Jindal Steel & Power has lowered offers by INR 100/MT to INR 3,100/MT. Currently offers for Fe 63% pellets remain in the range of INR 3,000-3,100/MT (loaded to wagons)
- Raipur pellet offers remain stable in the range of INR 4,100-4,200/MT (basic)
- Southern India pellet offers fell amid decline in pellet sponge prices. P-DRI prices in southern India have fallen by upto INR 400/MT W-o-W. Currently pellet offers for Fe 63% in Bellary are in the range of INR 4,300-4,350/MT (basic)
- Bhilwara (Rajasthan) based pellet maker-Jindal SAW has kept its pellet prices unchanged as of now. Prices for Fe 63% pellets are at INR 4,700/MT (ex-Bhilwara). However prices are likely to come down by INR 200-300/MT in the near term as buying interest is seen at lesser price levels
Indian pellet market-Trade log
- A Raipur based pellet maker concluded a pellet deal of 10,000 MT at INR 4,100/MT (basic) to a Nagpur based plant. Road freight from Raipur to Nagpur is at around INR 1,200/MT
- Jharsuguda based pellet manufacturer sold pellets at INR 3,600/MT (basic)
- Rourkela pellet offers are at INR 3,200/MT (ex-plant). The landed cost to a Raigarh based plant will come around INR 3,900/MT (CST extra)
Indian Pellet Prices as on 10 May’16
|
City |
Grade | Prices | W-o-W | M-o-M |
|
(Fe %) |
||||
| Barbil* | 63 | 3,000-3,100 | -50 | -100 |
| Rourkela | 63 | 3,200 | +100 | 0 |
| Jharsuguda | 63 | 3,600 | 0 | -100 |
| Jamshedpur | 63 | 3,300-3,400 | 0 | -100 |
| Durgapur | 63 | 3,400-3,800 | 0 | 0 |
| Raipur | 63 | 4,100-4,200 | 0 | -300 |
| Bellary | 63 | 4,300-4,350 | -150 | -50 |
| Bhilwara | 63 | 4,700 | 0 | +450 |
Basic prices in INR/MT
* loaded to wagons
Source: SteelMint Research
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