According to the market participants report to SteelMint, Raipur (central India) based pellet manufacturers have today reduced offers to INR 7,200/MT (ex-Raipur, GST extra) as against last offer of INR 7,600/MT (ex-Raipur, GST extra). Thus offers have lowered by INR 400/MT (USD 6).
Lowered realizations in pellet exports amid lowered Chinese buying interest and no significant pellet trades in the domestic market are the major factors behind the decline in offers by pellet manufacturers from Central India.
Hardly any deals were reported at previous offer of INR 7,600/MT (ex-Raipur, GST extra). Current pellet offers from Raigarh was learned around INR 6,500-6,800/MT (ex-plant).
As per SteelMint’s analysis, export realizations of key central Indian pellet producers are assessed around INR 5,800-5,900/MT (Ex-Plant).
P-DRI prices in Raipur have also decreased further sharply by INR 700/MT to INR 19,800/MT against INR 20,500/MT a week ago.
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