Iron Pellet manufacturers located in Raipur (Chhattisgarh) have increased offers by 400/MT for domestic buyers, looking at improved demand and uptick in prices of Sponge iron and semi finished products.
Sponge iron (FeM 80) and Sponge Pellet (FeM 79-80) prices moved up by Rs 700/MT W-o-W.
Whereas, offers for Ingot and Billet went up by Rs 1,700/MT and Rs 1,450/MT respectively, considering a W-o-W change.
Prevailing Iron Pellet prices (Rs/MT)
Raipur: 7,800-7,900
Barbil: 6700
Jajpur: 6750
Jamshedpur: 7100
Basic prices
A Pellet maker in Barbil remarked that domestic offers look to touch 6,900-7,000/MT in the beginning of September.
Most of the manufacturers in the eastern region of India have closed domestic sales and are concentrating on export market.
Pellet producers in Bellary (Karnataka) are also planning to raise offers due to upward movement in Sponge iron prices, which have gone up by Rs 800/MT in a week's time.
Current prices for Fe 60 Pellet is standing at Rs 5,900/MT and that of high grade (Fe 63) is at Rs 7,100/MT.
For more details, contact
Seema Goenka
(seema@steelmint.com)
Leave a Reply