West India (Rajasthan) based pellet maker – Jindal SAW has increased pellet prices by INR 300/MT. Current offers for Fe 63% grade pellets have moved up to INR 7,800/MT (delivered Kandla) against the previous assessment of INR 7,500/MT towards the end of last week. Jindal SAW runs a 1.5 MnT pellet plant in Bhilwara (Rajasthan).
Spot iron ore prices increased amid increased future and restocking by Chinese mills before Lunar holidays. Fe 62% fines price increased to USD 75.95/MT, CFR China which was USD 74.8/MT, CFR a week ago. Gujarat based steel mills haven’t booked any lump cargoes as it turned costlier. Assessment for South African lump is around USD 95/MT, CFR India.
Durgapur pellet offers up – Durgapur pellet prices have witnessed up by INR 100/MT to INR 5,600-5,700/MT this week against the end of last week’s assessment of INR 5,500-5,600/MT. P-DRI prices have also increased up this week to INR 19,000/MT.
Limited deals reported by Central India pellet makers – Raipur based pellet makers haven’t changed offers against the end of the last week assessment but they are started getting inquiries from the buyers. SteelMint’s current assessment for Raipur pellet stands at around INR 6,000/MT (ex-Raipur). P-DRI prices in Ex-Raipur are also increased and is currently assessed at INR 18,700/MT.
Southern India Pellet offers decline following decline in sponge prices – Southern India (Bellary) pellet prices have decreased offers further this to INR 6,800-6,900/MT against INR 6,900-7,000/MT(basic) last week’s assessment. P-DRI price come down to INR 18,500/MT against last week assessment INR 18,600-18,800/MT.
Indian pellet trade updates-:
1. Monnet Ispat (Raigarh) based pellet maker concluded a deal for around 7,000-8,000 MT pellet at INR 5,600/MT (Ex-Plant). Current offers are at INR 5,700-5,800/MT.
2. Jajpur based Brahmani River Pellets is offering pellets at INR 6,300/MT (ex-plant).
3. Rourkela pellet offers are heard around INR 5,200/MT (ex-plant).
Indian Pellet Reference prices as on 22nd Jan’19
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Barbil* | 63 | 5,000 |
| Jharsuguda | 63 | No offers |
| Durgapur | 63 | 5,600-5,700 |
| Jamshedpur | 63 | 5,200 |
| Raipur | 63 | 6,000 |
| Bellary | 63 | 6,800-6,900 |
| Kandla** | 63 | 7,800 |
**delivered
*loaded to wagons
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