Indian pellet prices rise for second week in a row amid increasing pellet sponge offers and improved pellet trade activities.
Indian pellet prices continue to witness northwards movement this week. Supported by hike in P-DRI prices, pellet offers in all major markets have strengthened up to INR 400/MT on weekly basis.
P-DRI prices in India have increased up to INR 1,500/MT W-o-W.
Trade-wise:
1. Southern India based pellet maker – MSPL raised pellet offers. Offers for Fe 65% grade pellets are at INR 6,400/MT (basic).
2. Durgapur based Super Smelters sold 3,000 MT pellets to a Durgapur based sponge manufacturer at INR 5,000/MT. Current offers are at INR 5,200/MT.
Indian Pellet Prices as on 21 Feb’17
|
City |
Grade (Fe %) | Basic prices in INR/MT |
W-o-W |
Remarks |
| Barbil* | 63 | 4,400-4,500 | = | JSPL & Arya Iron & Steel continue to hold offers. Increased global prices hiked pellet export offers. Current offers for Fe 64/63 grade pellets are heard at USD 103-104/MT, FoB India |
| Jharsuguda | 63 | 4,900 | +400 | Shyam Metaliks & Energy sold around 3,000 MT pellets to Raigarh based plant at INR 4,900/MT. |
| Durgapur | 63 | 5,000-5,200 | +200 | Rashmi Metaliks which was not seen giving offers in domestic market over lined up export shipments, has resumed offering pellets in domestic market. Offering limited quantity at INR 5,000/MT. Super Smelters & Shyam Sel have also hiked offers. |
| Jamshedpur | 63 | 4,800 | +300 | Adhunika Metaliks has raised pellet offers by INR 300/MT W-o-. |
| Raipur | 63 | 4,850-4,900 | +50 | Market participants reported few pellet deals have been concluded at INR 4,900/MT (basic) |
| Bellary | 63 | 5,800-5,900 | +350 | Amid rise in Bellary P-DRI and scrap prices, pellet offers have also moved up sharply. |
| Kandla** | 63 | 6,600 | = | Jindal SAW had raised pellet offers by INR 400/MT last week in line with increase in global iron ore prices. This week prices remain unchanged. |
*loaded to wagons
**delivered
Source: SteelMint Research
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