Pellet sponge offers in southern India have strengthened by INR 400-500/MT W-o-W. Following this few southern India based pellet manufacturers have raised their offers by INR 150-200/MT. While others continue to keep their offers intact. Presently offers for Fe 63% pellets are seen hovering in the range of INR 4,200-4,400/MT (basic). However market participants are skeptical that for how much time the recent price rally in sponge will continue.
JSPL raises pellet offers by INR 100/MT
Barbil based pellet maker-Jindal Steel & Power has raised pellet offers by INR 100/MT to INR 3,100/MT (loaded to wagons).
Other pellet manufacturers continue to hold offers as of now. Trade sources shared that no significant improvement has been noticed in pellet buying as P-DRI prices in Durgapur have fallen further by INR 150/MT W-o-W.
Raipur pellet offers at INR 3,850-3,900/MT
Marginal fluctuation was seen in Raipur pellet offers. Currently pellet offers for Fe 63% are in the range of INR 3,850-3,900/MT (basic).
As per sources, an Odisha based pellet maker has sold considerable quantity of pellets to Chhattisgarh based plants at INR 3,700-3,800/MT (landed, CST extra).
Jindal SAW may increase pellet offers – sources
Amid strengthening global iron ore prices, Bhilwara (Rajasthan) based pellet manufacturer – Jindal SAW may increase pellet offers by INR 200/MT, trade sources indicated SteelMint. Currently pellet prices of Jindal SAW are as follows – INR 4,800/MT (delivered Kandla) for Fe 63% pellets and INR 5,100/MT (delivered Kandla) for Fe 65% pellets.
Indian Pellet Prices as on 28 Jun’16
|
City |
Grade | Prices | W-o-W | M-o-M |
|
(Fe %) |
||||
| Barbil* | 63 | 2,850-3,100 | +100 | 0 |
| Jharsuguda | 63 | 3,300 | 0 | -200 |
| Jamshedpur | 63 | 3,200 | 0 | -100 |
| Durgapur | 63 | 3,300 | -100 | -100 |
| Raipur | 63 | 3,850-3,900 | 0 | -150 |
| Bellary | 63 | 4,200-4,400 | +100 | +150 |
| Kandla** | 63 | 4,800 | 0 | -450 |
Basic prices in INR/MT
* loaded to wagons
**delivered
Source: SteelMint Research
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