India Pellet Trade Log: Week 35, 2019

Raipur based pellet offers stable W-o-W: Raipur (central India) pellet makers have kept offers firm W-o-W. Current offers for Fe 63% grade pellet is at INR 6,200/MT (ex-Raipur, GST extra). Raipur based pellet makers concluded 5000MT pellet at INR 6,200/MT (Ex-plant).

One of the major pellet makers from Raipur has taken maintenance shutdown for the next 7-10 days. They may start offering in the market from next week.

P-DRI prices in Raipur witnessed rise on weekly basis to INR 16,300/MT as against last week assessment at INR 15,500/MT (basic).

Durgapur pellet assessment fell on weekly basis: In Durgapur SteelMint’s reference, pellet price witnessed at 5,200-5,300/MT, down on weekly basis. Durgapur (eastern India) based pellet manufacturers decreased their offers by INR 300-400/MT (ex-Durgapur, GST extra) as against INR 5,500-5,700/MT towards the beginning of last week.

P-DRI prices witnessed at 16,900/MT this week up sharply as against INR 15,700/MT assessed last week.

Southern India pellet offers Firm: Southern India (Bellary) based pellet makers have depicted stability in prices at INR 6,200-6,300/MT W-o-W. Trades remained on lower side in Bellary region with few pellet makers not actively offering in the market.

P-DRI prices in Bellary depicted increase to INR 16,300/MT as compared to last week assessment at INR 15,900-16,100/MT (ex-Bellary).

Indian pellet trade updates:

— Jamshedpur offers for pellet witnessed at INR 5,000-5,100/MT (Ex-plant), down slightly on weekly basis.
— West India (Rajasthan) based pellet maker – Jindal SAW kept pellet (Fe 63%) offers unchanged for the week. Current offers are at INR 7,800/MT (delivered Kandla).

SteelMint pellet reference prices as on 27th Aug’19

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