Indian domestic pellet offers have been up by INR 300/MT in South India. The prices have been increased mainly due to the shortage of the material in the area.
One of the manufacturer mentioned, “There are less sellers giving offers, along with the festive season the shortage of the material is helping the price boost for us.” The current offers are at INR 6,900/MT (basic) for Fe 63% & INR 7,400/MT (basic) for Fe 65% an upgrade of around INR 300-400/MT compared to last week.
Central India’s Raipur based pellet maker is heard to have struck a deal of pellets (Fe 63%) at INR 5,600/MT with the same price as last week but now they have increased the offers by around INR 200/MT compared to that of last week. The current quotes are heard at INR 5,700-5,800/MT. The positive sentiments have been attributed to the considerable rise in sponge prices as well as increased iron ore offers by the major miners.
In East India Durgapur based pellet makers have reported no major change in prices over last week with smaller deals. The current offers are at INR 5,200/MT.
Jindal SAW last pellet prices were at INR 6,600/MT for Fe 63% pellets. The pellet maker has raised offers by INR 200/MT amid increased global iron ore prices.
Indian Pellet Prices as on 22nd Aug’17
| City |
Grade (Fe %) |
Basic Prices in INR/MT |
| Jamshedpur |
63 |
4,500 |
| Durgapur |
63 |
5,200 |
| Raipur |
63 |
5,700-5,800 |
| Bellary |
63 |
6,900 |
| Kandla* |
63 |
6,700 |
| Barbil |
63 |
4,800 |
| Jharsuguda |
63 |
5,300 |
*delivered
Prices (GST extra) mentioned are for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
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