Declining P-DRI prices in eastern India have put domestic pellet offers under pressure as reported.
P-DRI prices in Durgapur have come down by INR 500/MT W-o-W and are presently seen hovering in the range of INR 14,000-14,100/MT. Whereas pellet offers in eastern India have come down by INR 50-100/MT W-o-W.
However in central India, pellet offers remain stable this week amid better demand. Raipur based pellet manufacturers reported that pellet deals have been concluded at INR 4,700/MT (basic) and are hopeful for stability in prices this week.
Indian Pellet Prices as on 24 Jan’17
|
City |
Grade (Fe %) | Prices | W-o-W |
Remarks |
| Barbil* | 63 | 4,400-4,500 | -50 | Arya Iron & Steel has resumed offering pellets in domestic market at INR 4,400/MT (loaded to wagons). JSPL offers remains unchanged at INR 4,500/MT (loaded to wagons). |
| Jharsuguda | 63 | 4,600 | -100 | Shyam Metaliks & Energy sold 3,000 MT pellets to Raigarh based plant at INR 4,600/MT. |
| Durgapur | 63 | 4,500 | -100 | Declining P-DRI prices resulted in fall in pellet offers. Rashmi Metaliks is still not quoting pellet offers for domestic market. |
| Jamshedpur | 63 | 4,150 | -50 | Adhunik Metaliks sold nearly 11,000 MT pellets at INR 4,150/MT. |
| Raipur | 63 | 4,700 | -50 | Raipur based pellet makers have concluded deals at INR 4,700/MT and anticipate stability in pellet offers this week. |
| Bellary | 63 | 5,800-5,900 | = | Pellet offers remain stable on weekly basis. |
Basic prices in INR/MT
*loaded to wagons
Source: SteelMint Research
Trade-wise:
1.Bilaspur based Rashi Steel kept pellet offers unchanged at INR 4,700-4,800/MT (ex-Bilaspur).
2. Rourkela based pellet maker – Shri Mahavir Ferro Alloys is offering pellets at INR 4,500/MT (ex-plant).
3. Southern India pellet maker – MSPL is offering Fe 65% pellets at INR 6,100/MT
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