The pellet offers have seen a rise of INR 150/MT in central India W-o-W as for the iron ore lump purchases are stagnant due wet weather. According to the sources that are connected to SteelMint informed that buying inquiries for lump are low comparatively as sponge manufacturers are preferring pellets over iron ore.
Pellet sponge offers as well have increased in the central India by INR 800/MT W-o-W.
Durgapur based pellet maker is heard to have sold 15000 MT pellets (Fe 63%) at INR 4700/MT.
Jindal SAW expected to increase offers further:
Jindal SAW quoted current offers for Fe 63% pellets are at INR 6400/MT delivered Kandla which are expected to go up by INR 200/MT. The reason for the increased offers is the hike of USD 4/MT, CFR China in global iron ore prices which have impacted the imported lump prices positively.
For other parts of the country not much activity has been observed and the market remained stable keeping prices unchanged.
Indian Pellet Prices as on 1st Aug’17
| City |
Grade (Fe %) |
Basic Prices in INR/MT |
| Barbil* |
63 |
No Offers. Last offers at 4,000-4,100 |
| Jamshedpur |
63 |
4,300-4,400 |
| Durgapur |
63 |
4,700 |
| Raipur |
63 |
5,400-5,500 |
| Bellary |
63 |
5,850-5,900 |
| Kandla** |
63 |
6,400 |
*loaded to wagons
**delivered
Prices (GST extra) mentioned are for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
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