Indian pellet prices across all major markets of India continue to remain stable this week. However trade sources reported decline in buying interest from sponge manufacturers.
Eastern India based trade sources shared that limited inquiries in domestic market have resulted in slow pellet trading activities.
However few pellet plants located in Odisha and West Bengal were heard to have concluded pellet export deals. Pellet export offers from India are heard to be in the range of USD 87-88/MT, FoB India.
Indian Pellet Prices as on 06 Feb’17
|
City |
Grade (Fe %) | Prices | W-o-W |
Remarks |
| Barbil* | 63 | 4,400-4,500 | = | JSPL and Arya Iron & Steel continue to hold pellet offers. |
| Jharsuguda | 63 | 4,400 | = | Shyam Metaliks & Energy is not quoting offers presently. Last deals were concluded at INR 4,400/MT. |
| Durgapur | 63 | 4,500 | = | Amid declining P-DRI offers, sponge manufacturers have reduced pellet buying. P-DRI offers have fallen further by INR 150/MT W-o-W. Few pellet export deals were reported at USD 84-87/MT, FoB India. |
| Jamshedpur | 63 | 4,200 | = | Pellet offers remain stable on weekly premises. |
| Raipur | 63 | 4,700 | = | Pellet buying remains slow. No impact of NMDC price hike (up by INR 100/MT M-o-M) in Baila fines has been seen yet. |
| Bellary | 63 | 5,600 | -100 | Limited inquiries over falling pellet sponge prices have led to decline in pellet offers. Southern India P-DRI prices have come down by INR 300-400/MT W-o-W. |
*loaded to wagons
Source: SteelMint Research
Trade-wise:
1. Southern India pellet maker – MSPL is offering Fe 65% pellets at INR 6,000/MT.
2. Rourkela based Mahavir Ferro Alloys is giving pellet offers at INR 4,400/MT (loaded to wagons).
3. Trade sources reported few pellet export deals from Odisha at USD 88/MT, FoB Paradip.
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