Rajasthan based pellet maker – Jindal SAW has raised pellet offers by INR 250/MT. Currently offers for Fe 63% grade pellets are assessed around INR 6,400/MT (delivered Kandla) against last assessment of INR 6,150/MT.
The pellet maker has raised prices following hike in global iron ore prices. Fe 62% iron ore fines index has remained range bound in last one week and is seen hovering around USD 61-62/MT, CFR China against previous week when prices had fallen to USD 59/MT, CFR levels.
High global prices have imported lump offers costlier. As per sources, South African lump (Fe 64%) offers are heard around USD 85/MT, CFR India.
Indian pellet trade log – week 44
1. Central India pellet offers remained mostly stable this week. Fe 62% pellet price assessment is at INR 5,200/MT (ex-Raipur).
2. Raipur Power & Steel has commissioned operations at its pellet plant located in central India.
3. West Bengal based pellet maker – Super Smelters sold around 2,000 MT pellets at INR 4,950/MT. Durgapur pellet price assessment is INR 5,000/MT.
4. Southern India pellet (Fe 63%) offers are around INR 6,000-6,200/MT (basic) in Bellary.
5. NMDC conducted auction for 38,700 MT iron ore pellets from its Donimalai plant in Karnataka on 23 Oct’17. Pellets of grade Fe 64+/-0.5% were offered in the e-auction. As per sources the e-auction received weak response with only 2,000 MT getting sold at base price of INR 5,461/MT.
Indian Pellet Reference Prices as on 24 Oct’17
|
City |
Grade (Fe %) |
Basic Prices in INR/MT |
| Jamshedpur | 63 | 4,800 |
| Durgapur | 63 | 5,000 |
| Raipur | 63 | 5,200 |
| Bellary | 63 | 6,000-6,200 |
| Barbil* | 63 | 4,700-5,000 |
| Jharsuguda | 63 | No offers |
| Kandla** | 63 | 6,400 |
Prices (GST extra) mentioned are for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
*Loaded to Wagon
**Delivered
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