In week 12, 2017 domestic pellet market in India has witnessed price increase of INR 100-300/MT W-o-W in few markets. However in other regions, prices continue to remain at last week’s levels.
In Durgapur pellet manufacturers have raised offers but they are yet to conclude deals at increased offers. Trade sources shared that though offers have gone up but trade volumes remain low.
P-DRI prices have increased up to INR 800/MT W-o-W.
Trade-wise:
1. Rourkela based Mahavir Ferro Alloys is offering Fe 63% grade pellets at INR 5,000/MT (loaded on to rake). It has sold nearly 8,000 MT pellets to a Raigarh based plant at INR 4,800/MT (loaded on to rake)
2. Bilaspur based Rashi Steel pellet offers are at INR 5,100-5,200/MT (ex-Bilaspur)
3. Southern India based MSPL is offering Fe 65% grade pellets at INR 7,000/MT
4. West Bengal based Super Smelter has concluded a pellet deal of about 5,000 MT with Durgapur based sponge plant at INR 5,400/MT. Current offers are at INR 5,500/MT
Indian Pellet Prices as on 15 Mar’17
|
City |
Grade (Fe %) | Basic Prices in INR/MT | W-o-W |
Remarks |
| Barbil* | 63 | 4,600-4,700 | = | JSPL and Arya Iron & Steel continue to hold pellet offers. |
| Jharsuguda | 63 | No offers | – | Shyam Metaliks & Energy is still under maintenance shutdown. It will resume offering pellets probably from 20 Mar’17 |
| Durgapur | 63 | 5,200-5,500 | +150 | Pellet offers have gone up by INR 100/MT W-o-W. Rashmi Metailks pellet offers are at INR 5,200/MT. Shyam Sel and Super Smelters have also raised offers to INR 5,500/MT |
| Jamshedpur | 63 | 5,100 | = | Adhunik Metailks has concluded some limited quantity deals at INR 5,000/MT. Current offers are at INR 5,100/MT |
| Raipur | 63 | 5,200 | +300 | Central India pellet offers have gained strength however any significant improvement in demand has still not been observed. |
| Bellary | 63 | 6,300-6,500 | +200 | Few southern India based pellet manufacturers have raised pellet offers to INR 6,500/MT. Others continue to keep same offers at INR 6,200-6,300/MT. |
*loaded to wagons
Source: SteelMint Research
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