Central Indian, Raipur based pellet makers have lowered the offers to INR 5,700 to 5,800/MT over falling sponge prices recently. A deduction of around INR 300 and 200/MT compared to last week was unable to fetch any deals among rare inquiries.
In East India Durgapur based pellet maker have reported a price reduction of about INR 100/MT against last week. The local holiday season has set in the major raw material and pellet producing state which will last till the first week of Oct. Amidst dull sentiments the market may be silent for the week with the current offers at INR 5,100/MT
A pellet maker in Jharsuguda have brought down the prices by INR 200/MT against last week’s prices. Current offers are at INR 5300/MT.
Pellet sponge prices in east and central India have come down by INR 600/MT W-o-W.
The festival activities have had its effect on South India pellet market as well with no change in prices without any significant inquiries. The current offers are at INR 6500/MT.
Indian pellet export offers – Assessment for Indian Pellet export offers stand stable at USD 118-122/MT, CFR China for Fe 64% grade pellets.
Indian Pellet Reference Prices as on 26th Sep’17
| City |
Grade (Fe %) |
Basic Prices in INR/MT |
| Jamshedpur |
63 |
4,800 |
| Durgapur |
63 |
5,100 |
| Raipur |
63 |
5,800 |
| Bellary |
63 |
6,500 |
| Barbil* |
63 |
5,300 |
| Jharsuguda |
63 |
5,300 |
| Kandla** |
63 |
7,050 |
Prices (GST extra) mentioned are for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
*Loaded to Wagon
**Delivered
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