Domestic pellet offers in India have increased sharply this week by INR 100-300/MT. Following iron prices hike by Odisha merchant miners announced yesterday, pellets makers of eastern and central India increased prices sharply this week. Odisha merchant miners have raised prices by INR 300/MT in both fines and lump.
Eastern Indian Pellets Makers Increase Offer:
Barbil (Odisha) based Pellet maker- JSPL (Jindal Steel & Power) has raised pellets offers. Current reference price assessment stands at INR 6,500/MT (loaded to wagons) against INR 6,200/MT (loaded to wagons) last week.
In Durgapur (eastern India) reference pellet price assessment stands at INR 6,900-7,000/MT (delivered) this week against last week’s assessment INR 6,800/MT.
P-DRI prices have remains stable this week at Durgapur in line with last week assessment of INR 21,000/MT. However, market participants are doubtful whether increased prices will be absorbed by market or not.
Central Indian Pellet maker also raises offer :
Central India (Ex-Raipur) pellet offers have also increased prices significantly this week. Assessment for this week is at INR 6,500-6, 600/MT against last week’s assessment of INR6,300/MT. However, market participants reported lower buying interest at increased prices.
P-DRI prices also increased sharply by INR 600/MT to at INR.22, 900/MT (basic) compared to INR 22,300 /MT a week ago.
Jindal SAW hike pellet offers-: West India (Rajasthan) based pellet maker – Jindal SAW has increased pellet prices further by INR 200/MT. Current offers for Fe 63% grade pellets have moved up to INR 7,250/MT (delivered Kandla) against a previous assessment of INR 7,050/MT. Jindal SAW runs a 1.5 MnT pellet plant in Bhilwara (Rajasthan)
Indian Pellet Market update: Week 27, 2018
Southern India (Bellary) based pellet makers have increased prices by to INR100/MT to 6,600/MT against INR 6500/MT last week prices. Despite P-DRI price assessment has decreased by INR100/MT to INR18, 500/MT this week against INR18,600/MT last week.
Indian Pellet Reference prices as on 03rd Jul’18
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Barbil* | 63 | 6,500 |
| Durgapur | 63 | 6,900-7,000 |
| Raipur | 63 | 6,500-6,600 |
| Bellary | 63 | 6,600 |
| Kandla** | 63 | 7,250 |
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
*loaded to wagons
**delivered
Source: SteelMint Research
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