Durgapur pellet assessment down, trades low: In Durgapur SteelMint’s reference, pellet price decreased by INR 100/MT to INR 5,200-5,400/MT (ex-Durgapur, GST extra), against INR 5,400-5,600/MT beginning of last week. One of the major pellet makers from Durgapur is not offering. Market participants mentioned that owing to the Dussehra holidays, domestic trades are yet to pick up in full swing.
P-DRI prices in Durgapur are currently seen at INR 15,400-15,600/MT (Ex-plant) down by INR 200/MT against last week.
Few pellet deals in Raipur reported at lower prices-: Although current offers for Fe 63% grade pellet is at INR 6,000/MT (ex-Raipur, GST extra), however as per sources two pellets deal for 4,000 and 5,000 MT reported in this week from Raipur at INR 5,950/MT (DAP Raipur). Bids sentiments are down by INR 100-200/MT than current pellet offers in the market.
P-DRI prices in Raipur fell by INR 400-500/MT W-o-W to INR 15,550/MT ex-Raipur.
Southern India pellet offers down: Southern India (Bellary) based pellet makers decreased pellet prices by INR 100/MT to INR 6,300-6,500/MT (ex-Bellary) against last offer at INR 6,400-6,500/MT. One of the major pellet makers from Bellary continues to be on maintenance shut down. One of the pellet makers concluded a pellet deal of 5,000 MT at INR 6,300/MT.
P-DRI prices in Bellary decreased by INR 300/MT W-o-W to INR 15,800/MT as against INR 16,100/MT last week.
Indian pellet trade updates:
—Jajpur based pellet maker-BRPL is offering pellets to Kalinganagar based units at INR 6,200/MT.
— Western India (Rajasthan) based pellet maker -Jindal SAW kept pellet (Fe 63%) offers stable at INR 8,050/MT (delivered Kandla) however no deals were reported at these offers.
— Jamshedpur offers for pellets were reported at INR 5,200-5,300/MT (Ex-plant). Jamshedpur based pellet maker sold around 25,000 MT pellets last week at INR 5,600/MT.
— Monnet Ispat Ltd (Raigarh) is offering pellets at INR 5,800/MT (Ex-plant) and concluded a deal for 1,000-1,500 MT P-DRI at INR 15,200/MT (Ex-plant) few days back, as per officials.
— A Chandrapur based manufacturer is heard to have bought pellets at INR 5,700/MT ex-Durg.
SteelMint pellet reference prices as on 09th Oct’19
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Durgapur | 63 | 5,200-5,400 |
| Jamshedpur | 63 | 5,200-5,300 |
| Raigarh | 63 | 5,600-5,800 |
| Raipur | 63 | 5,800-6,000 |
| Bellary | 63 | 6,300-6,500 |
| Kandla** | 63 | 8,050 |
**delivered
* Loaded to wagon
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
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