India: Jindal SAW to Export 55,000 MT Pellets to South Korea

West India (Rajasthan) based pellet maker – Jindal SAW is to export 55,000 MT of pellets (Fe 65%) to South Korea. The vessel has been booked by South Korean steel mill – POSCO as reported to SteelMint by market participants. As per vessel line-up data maintained with SteelMint, the vessel arrived at berth in Mundra port and is under loading. Jindal SAW domestic pellets offers for Fe 63% grade pellets have remained stable at INR 7,350/MT (delivered Kandla). Jindal SAW runs a 1.5 MnT pellet plant in Bhilwara (Rajasthan).

East India Pellet makers hold offers:

In Durgapur (eastern India) reference pellet price assessment stands at INR 6,600-6,700/MT (delivered) this week in line with last week prices. According to the market participants, demand is sluggish in eastern India. P-DRI prices have also decreased sharply by INR 500/MT this week to INR 19,500/MT as against last week assessment of INR 20,000/MT.
Barbil pellet price assessment stands stable at INR 6,500/MT (loaded to wagons).

Odisha based pellet makers – BRPL is heard supplying around 60,000-65,000 MT pellets monthly to 2 southern India based private steel plants via road. Offers around INR 6600/MT(ex-Jajpur).

Central India Pellet Offers stable, demand weak- Pellet price assessment for this week is at INR 6,400-6,500/MT in line with the last week’s assessment. However, SteelMint learned from the sources that some of the deal was also concluded at around INR 6,300-6,400/MT for pellets this week.

P-DRI prices increased sharply by INR 450/MT to INR.20,000/MT (basic) compared to INR 19,550/MT a week ago.

Indian Pellet Market update: Week 29, 2018

Southern India (Bellary) based pellet makers have kept prices unchanged at INR 6,500/MT this week.

Indian Pellet Reference prices as on 17th Jul’18

Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
*loaded to wagons
**delivered
Source: SteelMint Research