In week 02, 2017 domestic pellet offers remain predominantly stable amid lesser trade activities.
Minor correction in pellet offers of INR 100/MT W-o-W were noticed in Jharsuguda and Durgapur. However in other major markets, pellet prices remained stable.
Eastern India based market participants shared that buyers are showing resistance to book material at present offers which has resulted in limited trade activities. This may lead to marginal reduction in pellet offers in the short term.
Indian Pellet Prices as on 10 Jan’17
|
City |
Grade (Fe %) | Prices | W-o-W |
Remarks |
| Barbil* | 63 | 4,200-4,300 | = | JSPL maintains pellet offers similar to that of last week. |
| Jharsuguda | 63 | 4,700 | -100 | Shyam Metaliks & Energy sold 3,000 MT pellets at INR 4,700/MT to a Raigarh based plant. Thin trade activities reported following which buyers are less interested at present offers. |
| Durgapur | 64 | 4,700 | -100 | Rashmi Metaliks is not offering pellets in domestic market. Shyam Sel and Super Smelters have kept offers unchanged at INR 4,700/MT. Buyers resistive to book material at INR 4,700/MT. |
| Jamshedpur | 65 | 4,100 | = | Adhunik Metaliks’ pellet offers stable at INR 4,100/MT. |
| Raipur | 66 | 4,700-4,850 | = | P-DRI prices have come down by INR 600-700/MT W-o-W over which pellet buying has also weakened. |
| Bellary | 67 | 5,800-5,900 | = | Stability in P-DRI prices has supported pellet offers. |
Basic prices in INR/MT
*loaded to wagons
Source: SteelMint Research
Trade-wise:
1. Rashi Steel & Power (Bilaspur) is offering pellets at INR 4,700-4,800/MT (ex-plant).
2. Southern India based MSPL is offering Fe 65% pellets at INR 6,200/MT.
3. A Raipur based pellet manufacturer sold nearly 10,000-15,000 MT pellets at INR 4,700/MT (basic).
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