Arya Iron and Steel (AISL), a merchant Iron Pellet plant based at the mining belt of Odisha with 1.2 MnT pa capacity, has increased Pellet offers by INR 300/MT.
Presently, its offers stands at INR 6,400/MT ex works, Barbil. Offers by the company strengthened owing to strong rise in Sponge iron prices in the eastern region of India. Also, Arya received adequate Pellet booking orders at lower prices of around INR 6,000-6,100/MT (ex works Barbil), in the start of this month.
Odisha government has restricted ore loading activity i.e. ore movements by truck till 20 Apr, 2014 to ensure smooth polling in the state. General elections and state elections will commence in the state this month.
East India Sponge Iron Prices climb by INR 950/MT in a Week
Sponge iron prices in eastern region of India improved by INR 900-1,000/MT in a single week. FeM 79-80 Pellet Sponge (P-DRI) offers are standing at INR 19,000-20,000/MT (basic). In addition, FeM 78-80 Sponge iron (C-DRI) is at INR 900-1,000/MT (basic).
Jindal Steel and Power (JSPL) retain Pellet Prices
JSPL sold about 28,000-32,000 MT (i.e. 7-8 rakes) Pellets at INR 6,500/MT (ex works, Barbil) and retain its offers at similar level. A Pellet making company in Jharsuguda is selling the material at INR 7,000/MT (basic).
Pellet plant of Bhushan Power & Steel is under maintenance shut down; company maintains its offer at INR 6,900/MT (basic).
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