East India pellet offers remain stable- Market sources shared that pellet buying continues to remain weak in eastern regions of the country as there are not many sponge manufacturers that are utilizing pellets.
Barbil based pellet maker Arya Iron & Steel is offering pellets at INR 3,200/MT (loaded to wagons). Jharsuguda pellet offers remain unchanged at INR 3,800/MT (basic).
In eastern India there are not many pellet makers offering material in the market. Offers of a Durgapur based pellet maker is at INR 3,500/MT (basic). Industry sources shared that pellet makers are seen giving discount of INR 100-200/MT on purchases of quantity 2,000-4,000 MT.
Limited pellet buying in Central India results in slight reduction in prices-Pellet manufacturers in Raipur shared that current offers are in the range of INR 4,100-4,200/MT (basic). Despite increase in pellet sponge prices, buying interest is limited. However participants are expecting next month to remain optimistic for pellet market.
Southern India pellet offers at INR 4,300-4,500/MT- A southern India based pellet maker said that we had concluded our last deal at INR 4,400/MT and currently we are offering Fe 63% pellets at INR 4,400-4,500/MT. Another pellet maker based in southern India highlighted that offers for Fe 64/63 pellets are in the range of INR 4,250-4,300/MT (basic).
Indian Pellet Prices as on 29 Mar’16
|
City |
Grade | Prices | W-o-W | M-o-M |
|
(Fe %) |
||||
| Barbil* | 63 | 3,200 | 0 | +150 |
| Jharsuguda | 63 | 3,800 | 0 | -200 |
| Durgapur | 63 | 3,500 | 0 | -300 |
| Raipur | 63 | 4,100-4,200 | -150 | -150 |
| Bellary | 63 | 4,300-4,500 | -300 | +200 |
| Kandla** | 63 | 5,250 | 0 | +400 |
Basic prices in INR/MT
* loaded to wagons
**delivered
Source: SteelMint Research
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