Indian Iron Pellet prices show resistance. Not many buyers in the market are willing to pay high for Iron pellets. Also, Sponge iron prices have declined by INR 400-500/MT in a week.
Indian pellet prices marked marginal drop as buyers reluctant to pay high and are expecting decline in prices to INR 8,500/MT owing to falling Sponge iron prices.
JSPL is currently offering at INR 8,900/MT (loaded into wagons at Barbil). Whereas, a Jharsuguda based manufacturer is looking at INR 9,000/MT (basic) for new booking orders. BRPL is offering Pellets at INR 8,750/MT (basic)/9,000 (loaded). Arya Iron & Steel, Bhushan Power & Steel and Essar Steel aren’t offering Pellets as of now.
|
Indian Pellet Prices |
|||
|
Company |
Place |
Grade |
Prices |
|
Jindal Steel & Power |
Barbil |
Fe 63 |
8,900* |
|
Brahmani River Pellets |
Jajpur |
Fe 63 |
8,750 |
|
Fe 63 |
9,000* |
||
|
|
Jharsuguda |
Fe 63 |
9,000 |
|
Shri Bajrang Power |
Raipur |
Fe 63 |
9,000 |
|
Sarda Energy |
Raipur |
Fe 63 |
9,300 |
|
Godawari Power |
Raipur |
Fe 63/64 |
9,400 |
|
Adhunik Metalik |
Tatanagar |
Fe 63 |
8,800 |
|
BMM Ispat |
Bellary |
Fe 61 |
7,700 |
|
Fe 60 |
7,400 |
||
|
Xindia Steels |
Bellary |
Fe 62 |
8,000 |
|
MSPL |
Bellary |
Fe 62.5 |
8,300 |
Basic Prices in INR/MT
* Prices as per Loaded to wagons
Source: SteelMint Research
“There are fewer inquiries for Pellets at these prices. Quite a lot of bookings were done at lower prices and Pellet manufacturers are still executing those trades. Moreover, importing Pellet is a better option now,” said a large Pellet trader based in eastern region.
Last deal for imported Pellet was heard to settled at USD 146-147/MT CFR West Coast for 65% Fe Pellets from CIS. With falling spot Iron ore prices and strengthening INR, it makes sense to import Pellets, he further added.
Leave a Reply