Indian Pellet Trade Log – Week 30

JSPL cuts pellet offers by INR 100/MT

Barbil based pellet maker Jindal Steel & Power (JSPL) has cut pellet offers by INR 100/MT W-o-W to INR 3,000/MT (loaded to wagons). Arya Iron & Steel pellet offers remains unchanged at INR 2,850/MT (basic).

Pellet prices in other regions of eastern India continue to remain unmoved. Market sources shared that Durgapur pellet prices are in the range of INR 3,200-3,300/MT (basic).

Raipur pellet makers raise offers to INR 3,900/MT

Pellet manufacturers in Raipur have raised offers over recent increase in pellet sponge prices. Presently offers for Fe 63% pellets are seen at INR 3,900/MT (basic) however no deals have yet been concluded at these offers.

A Raipur based pellet maker shared “P-DRI prices have moved up by INR 200-400/MT W-o-W and are currently seen at INR 11,200-11,400/MT (ex-works). Rise in P-DRI prices has led to marginal increase in pellet price as well.”

Southern India pellet manufacturers expect increase in buying interest in coming term

Bellary pellet offers continue to remain unchanged on weekly premises. Currently offers are seen in the range of INR 4,200-4,250/MT (basic).

Southern India based market participants highlighted that few Chennai based steel makers who earlier used to utilize imported lump have raised their inquiries for pellets. Following this, Bellary pellet makers are expecting pellet buying interest to strengthen in the days to come.

Indian Pellet Prices as on 20 Jul’16

Basic prices in INR/MT
* loaded to wagons
**delivered
Source: SteelMint Research

Trade-wise:

1. Rashi Steel & Power is offering pellets at INR 3,650/MT (ex-plant) in Bilaspur.
2. Jharsuguda based Shyam Metaliks & Energy pellet offers remain unchanged at INR 3,300/MT (basic). The pellet maker has concluded a bulk deal of 5,000 MT pellets at INR 3,200/MT (basic).
3. Jindal SAW pellet (Fe  63%) offers remain stable at INR 5,150/MT (delivered Kandla).