Barbil based pellet maker – Jindal Steel & Power (JSPL) has resumed quoting offers in domestic market. Presently Barbil pellet (Fe 63%) offers are hovering at INR 4,200-4,300/MT (loaded to wagons).
Recently JSPL has concluded deal for supply of nearly 40 pellet rakes at INR 4,150-4,200/MT (loaded to wagons).
Southern India Pellet Offers Rise Sharply in line with increase in P-DRI Prices
Pellet offers in southern India have been experiencing uptrend since last couple of weeks. Continuing the uptrend, pellet offers have further moved up by INR 400/MT in beginning of this year.
Amid increase in southern India P-DRI prices (up by INR 500-700/MT W-o-W) and hike in billet prices (moved up by up to INR 2,000/MT W-o-W), Bellary pellet manufacturers have raised offers.
Presently offers for Fe 63% pellets in Bellary are in the range of INR 5,800-5,900/MT. Southern India based pellet maker – MSPL is offering Fe 65% pellets at INR 6,600/MT.
Indian Pellet Prices as on 04 Jan’17
|
City |
Grade (Fe%) | Prices | W-o-W |
Remarks |
| Barbil* | 63 | 4,200-4,300 | – | JSPL resumed offering pellets in domestic market. Logistics issue in pellet exports still remain a hurdle. |
| Jharsuguda | 63 | 4,800 | = | Shyam Metaliks & Energy sold 5,000 MT pellets at INR 4,700/MT (basic). Present offers at INR 4,800/MT. |
| Durgapur | 63 | 4,800 | = | Rashmi Metaliks is not offering in domestic market. Shyam Sel pellet offers are at INR 4,800/MT. |
| Jamshedpur | 63 | 4,100 | = | Adhunik Metaliks pellet offers remain unchanged at INR 4,100/MT. |
| Raipur | 63 | 4,700-4,800 | = | Buyers looked interested at price levels of INR 4,700/MT. |
| Bellary | 63 | 5,800-5,900 | +400 | Hike in P-DRI prices supported domestic pellet offers. |
| Kandla** | 63 | 6,200 | -200 | In line with falling global iron ore prices (down by USD 2/MT W-o-W), Kandla domestic pellet offers have also come down. |
Basic prices in INR/MT
*loaded to wagons
**delivered
Source: SteelMint Research
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