Domestic pellet offers in India have decreased further this week up to by INR 250/MT W-o-W.
Eastern India Pellet offers remain under pressure -:
Durgapur pellet offers have been declining from the last two weeks. This week offers have decreased by around INR 250/MT this week. Reduced buying interest and fall in sponge iron prices resulted in limited trade activities which have put pellet prices under pressure. Reference pellet price assessment for Durgapur stands at INR 5,900-6,100/MT this week. P-DRI prices are hovering at INR 19,700-19,800/MT, down by around INR 900/MT on weekly premises.
Central India pellet market remains softened this week. Reference pellet price assessment in Raipur is in the range of INR 7,000- 7,100/MT (ex-works, GST extra). P-DRI prices have declined to INR 19,700/MT against at INR 20,200 -20,300/MT (ex-works).
Southern India pellet prices fell marginally -:
Southern India (Bellary) based pellet manufacturers have declined pellet offers this week amid declining P-DRI prices. Bellary pellet offers have moved down by around INR 100/MT against our last assessment. Current price assessment for Fe 63% grade pellets are heard around INR 7,100 (ex-Bellary).Trade sources also reported deals to have concluded at these levels by a major pellet manufacturer in southern India.
Trade-wise:
A major pellet maker in Southern India concluded a deal of 10,000-15,000 MT at INR 7,100/MT (ex-Bellary).
Indian Pellet Reference prices as on 06th Feb’18-:
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Barbil* | 63 | 5,800 |
| Durgapur | 63 | 5,900-6100 |
| Jamshedpur | 63 | 5,500-5,900 |
| Raipur | 63 | 7,000-7,100 |
| Bellary | 63 | 7,100 |
| Kandla** | 63 | 7,000 |
*loaded to wagons
**delivered
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
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