Pellet offers in domestic market have weakened further this week amid limited trades. Indian pellet offers have come down by INR 100-500/MT W-o-W in week 42.
P-DRI prices have come down by INR 300-400/MT W-o-W. Amid decline in P-DRI prices, inquiries for pellets in domestic market have also come down.
Indian pellet trade log – Week 42
1. Central India pellet offers have come down by INR 200-300/MT W-o-W and are hovering in the range of INR 5,300-5,500/MT. Despite fall in offers, buying interest remains subdued as sponge makers are seen preferring NMDC iron ore over domestic pellets.
2. Thin pellet trades were reported in Durgapur. Offers for Fe 63% pellets are at INR 5,000/MT. A Durgapur based pellet maker sold around 3,000 MT pellets at INR 5,000/MT. Rashmi Metaliks is seen offering pellets in limited quantity at INR 4,900/MT.
3. Shyam Metaliks & Energy (Jharsuguda) pellet offers are at INR 4,800/MT. The pellet maker has concluded a deal for 7,000 MT pellets with Raigarh based plants at INR 4,700/MT (basic).
4. Southern India pellet offers have come under pressure after production cut by sponge units in the area. Fe 63% grade pellet offers are at INR 6,100-6,200/MT.
5. West India based pellet maker – Jindal SAW has further reduced offers by INR 250/MT W-o-W. Offers for Fe 63% pellets are at INR 6,500/MT, delivered Kandla.
Indian Pellet Reference Prices as on 10 Oct’17
|
City |
Grade (Fe %) |
Basic Prices in INR/MT |
| Jamshedpur | 63 | 4,800-4,900 |
| Durgapur | 63 | 4,900-5,000 |
| Raipur | 63 | 5,300-5,500 |
| Bellary | 63 | 6,100-6,200 |
| Barbil* | 63 | 4,900-5,050 |
| Jharsuguda | 63 | 4,800 |
| Kandla** | 63 | 6,500 |
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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