SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, stood at INR 10,250/tonne (t), stable compared to the last assessment on 24 January, 2023. No deals were reported in the current publishing window.
Rationale:
- PELLEX has been derived using data points, i.e. trades, offers and bids. To download the detailed methodology, Click here.
- No deal was reported hence not considered in this publishing window and accorded 0% weightage for T1 trade.
- Nine (09) firm offers, bids and indicative prices were reported. Five (05) were taken for price calculation and given the balance 100% weightage.
- SteelMint received no bids for index calculation in this publishing window.
Raipur-based pellet producers floated offers at INR 10,100-10,200/t ($124-$125/t) exw. Godawari Power and Ispat offered pellets (Fe 6.5%, +/-0.5) at INR 10,500/t exw ($129/t) as against INR 10,100/t exw ($124/t) previously.
Market participants are waiting for NMDC’s price revision which may be announced this week. Meanwhile, the market was mostly silent and participants are looking for more clarity, resulting in an increase in the bid-offer gap.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur moved up by INR 200/t w-o-w to INR 32,400/t exw. On a daily basis too, sponge iron prices increased by INR 200/t.
Region-wise offers and deals:
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