Indian pellet prices in week 26 continue to remain at similar levels as those observed in last week. Prices across all major markets remained unmoved except Jharsuguda where prices have fallen by INR 100/MT W-o-W.
Amid lack of stability in pellet sponge prices and weak demand in the market, domestic pellet prices continue to hover in the same region.
“Pellet sponge prices have not shown any significant improvement against last week following which pellet movement is quite slow. Pellet prices continue to remain unchanged”, quoted a Durgapur based pellet maker.
Pellet prices in southern India have fallen marginally and are presently seen in the range of INR 4,100-4,250/MT (basic). The pellet makers reported that P-DRI prices have weakened further – in Hyderabad down by INR 150/MT W-o-W following which buying is little dull.
Rajasthan based pellet maker – Jindal SAW continues to keep pellet offers unchanged at INR 4,800/MT (delivered Kandla) for Fe 63%. A west India based market participant highlighted that despite domestic pellet offers are competitive buying is subdued as many Gujarat based steel makers have either shut down or have reduced their operational capacities.
Trade-wise:
- A Raipur based pellet maker sold bulk quantity of pellets to Maharashtra based plant at INR 3,850/MT (basic)
- A southern India based pellet manufacturer has sold around 10,000 MT pellets at INR 4,250/MT (basic)
- In a recently concluded pellet deal, a Raipur based pellet maker sold around 4,000 MT pellets at INR 3,900/MT (basic)
Indian Pellet Prices as on 21 Jun’16
|
City |
Grade | Prices | W-o-W | M-o-M |
|
(Fe %) |
||||
| Barbil* | 63 | 2,850-3,000 | 0 | -100 |
| Jharsuguda | 63 | 3,300 | -100 | -200 |
| Durgapur | 63 | 3,300-3,500 | 0 | 0 |
| Raipur | 63 | 3,900 | 0 | -150 |
| Bellary | 63 | 4,100-4,250 | -50 | -50 |
| Kandla** | 63 | 4,800 | 0 | -450 |
Basic prices in INR/MT
* loaded to wagons
**delivered
Source: SteelMint Research
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