Pellet makers in Raipur have raised offers by around INR 300/MT W-o-W over increase in prices of fines by NMDC.
National Mineral Development Corporation (NMDC) revised iron ore prices for Apr’16 and has raised Baila fines (Fe 64%) prices by INR 150/MT M-o-M to INR 1,860/MT (FoR prices excluding DMF, NMET & other taxes).
Raipur based pellet makers have raised offers following the price hike in fines and shared that current offers are in the range of INR 4,400-4,500/MT (basic). However as per market sources deals were heard to be concluded so far at these increased offers.
Barbil pellet offers up, whereas its down in Jharsuguda & Rourkela
Barbil pellet offers are in the range of INR 3,100-3,200/MT (loaded to wagons). JSPL pellet offers are at INR 3,200/MT (loaded to wagons) and Arya Iron & Steel pellet offers are at INR 3,100/MT (loaded to wagons). On a weekly basis, pellet offers in Jharsuguda and Rourkela have fallen by INR 100/MT.
Southern India pellet prices may gain in the coming days
Bellary pellet offers for Fe 63% are in the range of INR 4,400-4,500/MT (basic). Market participants shared that buying interest has improved since last week and is anticipated to remain strong in the coming days.
Indian Pellet Prices as on 04 Apr’16
|
City |
Grade | Prices | W-o-W | M-o-M |
|
(Fe %) |
||||
| Barbil* | 63 | 3,100-3,200 | +100 | +100 |
| Rourkela | 63 | 3,200 | -100 | – |
| Jharsuguda | 63 | 3,700 | -100 | -200 |
| Durgapur | 63 | 3,500-3,800 | +100 | -200 |
| Raipur | 63 | 4,400-4,500 | +300 | +200 |
| Bellary | 63 | 4,400-4,500 | +50 | +200 |
| Kandla** | 63 | 5,250 | 0 | -100 |
Basic prices in INR/MT
* loaded to wagons
**delivered
Source: SteelMint Research
Trade-wise:
- Odisha based Shyam Metaliks & Energy concluded a pellet deal yesterday at INR 3,700/MT (basic)
- Rourkela based pellet maker Shri Mahavir Ferro Alloys is offering pellets at INR 3,200/MT (basic)
Leave a Reply