Indian Iron Pellet Trade Log-Week 30

Indian pellet prices remain unchanged more or less all across the country this week.

Falling DRI prices kept buying interest very low. Sponge makers preferred to cut down their production owing to high cost of production and low margins.

1.JSPL is offering Fe 63% pellet at around INR 4,250-4,300/MT (loaded to wagons) at Barbil, Odisha. Arya’s offers are assessed at INR 4,100/MT (loaded to wagons) at Barbil. However, with Truck Mining Association’s ongoing transport strike in Odisha, buyers are not keen to book material at the moment.

2. Raipur based manufacturers are offering Fe 63%+ pellets at INR 5,400/MT (ex- plant) and discounts upto INR 200/MT on bulk buying.

3. Bulk deal of 25,000 MT pellets has been reported from Jajpur/Keonjhar (Odisha) region at INR 3,800/MT on ex-plant basis. General offers are assessed at INR 4,000/MT.

4. West Bengal based manufacturers have been heard to raise offers by INR 100-200/MT amid transport strike in Odisha, which has restricted supply from the state. Buying interest remains weak. Last offers were assessed at INR 4,600-5,000/MT

5. Bellary (Karnataka) based manufacturers are offering Fe 62% pellets at INR 4,950/MT. Recently, NMDC has started offering lumps in smaller lots of 1000 MT which was 4000 MT earlier in e-auction. Sponge makers are shifting their interest towards lump

6. In this month (till 23 July’15), a single export shipment has been observed. Essar Steel exported 20,000 MT pellets to Abu Dhabi via Vizag Port on 10 July’15

Indian Pellet Prices

Basic prices in INR/MT
*loaded to wagons
Source: SteelMint

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