Domestic pellet prices in India have witnessed a sharp increase of INR 100-300 /MT in Week 38.
Amid sudden increase in the prices of pellet sponge, domestic pellet offers in India have also moved up. Eastern India based market participants shared that P-DRI prices have increased suddenly owing to rake shortage, lesser iron ore production over monsoons and high coal prices.
Eastern India pellet offers rise by INR 300/MT W-o-W – Jharsuguda pellet offers have ascended by INR 300/MT and are currently seen at INR 4,100/MT. West Bengal based pellet maker – Rashmi Metaliks has resumed offering pellets in domestic market and present offers are at INR 4,000/MT (basic). The pellet maker is also participating in exports owing to which it was not offering pellets in domestic market last week.
Presently Durgapur pellet offers are heard in the range of INR 4,000-4,300/MT.
Raipur pellet offers touch 11-month high – Pellet offers in Raipur have moved up by INR 200-300/MT W-o-W and are presently seen hovering in the range of INR 4,500-4,600/MT (basic). Raipur pellet prices were last seen at these levels in Oct’15.
“P-DRI prices in Raipur have jumped by about INR 800/MT in a week’s time. We have carried deals at INR 13,000/MT (ex-works). Following this, we have raised our pellet offers to INR 4,600/MT (basic),” shared a Raipur based pellet maker.
Southern India pellet manufacturers raise offers – Bellary pellet offers have also moved up and are currently seen in the range of INR 4,500 – 4,600/MT (basic) for Fe 63% pellets.
Indian Pellet Prices as on 13 Sept’16
|
City |
Grade | Prices | W-o-W | M-o-M |
|
(Fe %) |
||||
| Barbil* | 63 | No offers for domestic | – | – |
| Jharsuguda | 63 | 4,100 | +300 | +700 |
| Jamshedpur | 63 | No offers for domestic | – | – |
| Durgapur | 63 | 4,000-4,300 | +300 | +400 |
| Raipur | 63 | 4,500-4,600 | +250 | +550 |
| Bellary | 63 | 4,500-4,600 | +100 | +250 |
Basic prices in INR/MT
* loaded to wagons
Source: SteelMint Research
Trade-wise:
1. Southern India based pellet maker – MSPL has raised pellet offers by INR 150-200/MT. Present offers for Fe 65% pellets are at INR 5,200/MT (basic).
2. Bilaspur based pellet maker – Rashi Steel & Power has sold 7,000 MT pellets at INR 4,300/MT (ex-Bilaspur) in the local market. Present offers are at INR 4,500/MT (ex-Bilaspur).
3. As per sources, Jharsuguda based pellet maker booked nearly 8,000 MT pellets at INR 3,900-4,000/MT (basic). Current offers are at INR 4,100/MT (basic).
4. Rourkela based Shri Mahavir Ferro Alloys has increased pellet offers by INR 400/MT. Current offers are at INR 3,900/MT (ex-plant)
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