Iron ore concentrate prices in the Jabalpur region remained range-bound in recent deals. SteelMint’s index for Fe 63% concentrate prices currently stands at around INR 5,600/t exw.
Meanwhile, deals of around 60,000 t were heard in this publishing window, which was taken into consideration in the T1 trade of the index.
Western and central India-based pellet makers were heard to have actively booked concentrates at offers of around INR 5,500-5,800/t exw.
Iron ore concentrate prices remained supported after NMDC kept iron ore prices unchanged for May 2022 deliveries, highlighted a source. The miner announced a roll-over in prices with the price of Baila fines (Fe 64%) being fixed at INR 5,160/t FOR siding, exclusive of taxes.
Outlook
Iron ore concentrate prices are likely to remain supported amid restocking ahead of the monsoon season. However, correction in pellet offers might remain a factor that can weigh down buying prices of concentrates. SteelMint’s bi-weekly domestic pellet (Fe 63%) index, PELLEX, stood at INR 11,100/tonne (t) DAP Raipur on 3 May, 2022, down compared to the last assessment on 29 April.
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