SteelMint in conversation with market participants learned that Raipur (Central India) based pellet manufacturers have increased offers by INR 100-200/MT. Current offers for Fe 63% grade stands at INR 6,200-6,300/MT (ex-Raipur, GST extra) as against last assessment at INR 6,100-6,200/MT towards the beginning of the week. However, a major pellet maker is heard to have concluded pellet transaction of about 20,000 MT at INR 6,100/MT but has raised offers thereafter.
Few Raipur based pellet makers are not aggressively offering amid pending dispatches. Also, hike in Odisha lump offers were announced yesterday. Odisha’s major merchant iron ore miners namely Serajuddin, KJS Ahluwalia & Kaypee increased iron ore lump offers effect yesterday (20th Nov’19). Miners have increased prices for 5-18 mm (Fe 63%) by INR 300/MT to INR 4,000/MT (ex-mines, including Royalty, DMF, & NMET) as against last offers at INR 3,700/MT (ex-mines, GST extra).
P-DRI prices witnessed decline to INR 16,400-16,600/MT on weekly basis as compared to INR 16,900/MT assessed last week.
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