Few regions in eastern India have reported marginal decline of INR 100/MT W-o-W in pellet prices, whereas in southern & western regions, pellet prices continue to remain at last week levels.
Market participants highlighted that amid marginal drop in P-DRI prices and weak buying sentiments over upcoming festive holidays of Holi has reduced pellet buying activities to a limited extent. Following this few pellet makers in eastern India have reduced offers.
P-DRI prices in Durgapur are down by INR 300/MT on weekly basis. Today P-DRI (78 FeM) prices are at INR 15,600/MT (delivered).
Trade-wise:
1. Rourkela based Mahavir Ferro Alloys is offering Fe 63% grade pellets at INR 4,900/MT (loaded on to rake)
2. Bilaspur based Rashi Steel pellet offers are at INR 5,000/MT (ex-Bilaspur)
3. Southern India based pellet manufacturer- MSPL has hiked Fe 65% grade pellet offers by INR 100/MT W-o-W. Current offers are assessed at INR 6,700/MT.
Indian Pellet Prices as on 07 Mar’17
|
City |
Grade (Fe %) | Basic Prices in INR/MT | W-o-W |
Remarks |
| Barbil* | 63 | 4,600-4,700 | = | JSPL & Arya Iron & Steel continue to hold offers. |
| Jharsugda | 63 | 4,800-5,100 | -400 | Shyam Metaliks & Energy pellet plant is under maintenance shutdown. Two deals concluded latest by INR 4,800/MT against last deal INR 5,100/MT. |
| Durgapur | 63 | 5,100-5,400 | -100 | Durgapur pellet offers have come down by INR 100/MT W-o-W. Rashmi Metailks is offering limited quantity pellets at INR 5,100/MT. Shyam Sel & Super Smelters have also reduced offers this week to INR 5,400/MT. |
| Jamshedpur | 63 | 5,100 | +100 | Adhunik Metalks has concluded a pellet deal of 3,000 MT pellets at INR 5,000/MT following which pellet offers have moved up. |
| Raipur | 63 | 4,900-5,000 | -100 | Trade participants highlighted that recent decline in P-DRI offers has resisted further price hike in pellet prices. |
| Bellary | 63 | 6,200 | = | Pellet manufacturers highlighted that they have started receiving bookings at increased pellet offers of last week. As of now, prices remain unchanged. |
| Kandla** | 63 | 6,750 | = | Jindal SAW continues to hold pellet offers. |
*loaded to wagons
**delivered
Source: SteelMint Research
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