According to the market participants report to SteelMint, one of the Central India (Raipur) based pellet manufacturers has concluded a bulk deal of around 100,000 MT pellets. The deal was heard to have concluded by around 16 parties in Raipur at an average price of around INR 6,500/MT (ex-Raipur, GST extra).
Central India (Raipur) pellet offers have decreased further sharply and hit almost 4-month low. SteelMint assessment for Raipur pellets has come down to INR 6,800-7,000/MT (ex-Raipur, GST extra for 1000 MT)which is INR 500-600/MT down against last week .
Pellet prices of Central India have come down sharply by INR 1,300-1,400/MT from the last two week. Amid falling pellet export prices and limited inquires from the buyers pellets offers have declined. P-DRI prices have come down W-o-W to INR 20,700-20,800/MT as against INR 20,900/MT last week.
Recently Monnet Ispat and Energy Limited has commenced pellet sales in the merchant market. Current offers from pellet maker has assessed at INR 7,000-7,100/MT (Ex- Raigarh).
Indian pellet capacity was learned to be around 83.32 MnT p.a. In FY18 and pellet production stood around 59.6 MnT as per our study. Central India has a pellet capacity of 9.3 MnT pa and production of around 5.8 MnT.
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