Central India based pellet makers have reduced pellets prices by INR 300/MT today (28th Mar’18). Offers for Fe 63% grade pellets are now assessed at INR 6,200/MT (basic, GST @ 5% extra). Last offers were assessed at INR 6,500/MT (basic, GST @ 5% extra).
Factors that have resulted in the decline in pellet offers:-
1. Odisha iron ore prices under pressure – Essel mining yesterday (27th Mar’18) reduced iron ore lump and fines prices by INR 225/MT. Market sources are expecting price cut announcements by other major miners too.
2. A decline in P-DRI prices – P-DRI prices for Ex Raipur also declined by INR 400/MT on weekly basis to INR 19,400/MT (ex-Raipur) against the previous assessment which was INR 19,800/MT. However, today prices have edged up.
3. Decline in Indian pellet export prices – According to SteelMint source. Indian pellet export offers have also come down today to USD 106-107/MT, CFR China.Spot iron ore fines (Fe 62%) index in China fell by USD 4/MT W-o-W to USD 63/MT, CFR China.
Leave a Reply