Declining P-DRI prices have again pulled back the positive sentiments in Indian pellet market.
With prices of semi finished goods retreating back, buying sentiments in pellet market have depressed further. Pellet makers continue to hold prices at similar levels. Barbil pellet prices continue to remain stable at INR 3,200-3,300/MT (loaded to wagons).
“P-DRI prices in east India have slashed by around INR 1,200/MT in a week’s time. Pellet buying has also reduced consequently. Offers continue to remain the same and pellet buyers remain hesitant to book material”, shared a participant based in eastern India.
Pellet prices in southern India also remain unchanged at INR 4,400/MT (basic). Market participants anticipate that falling P-DRI prices may weaken pellet prices in the coming term.
Jindal SAW pellet offers for Fe 63% are at INR 4,200/MT and INR 4,500/MT for Fe 65% (delivered Kandla).
Trade-wise:
- A Jharsuguda based pellet maker sold pellets at INR 3,900/MT (basic)
- Odisha pellet offers to Raipur are heard to be in the range of INR 3,900-4,000/MT (landed)
- A Raipur based pellet maker sold pellets at INR 4,300/MT (basic)
Indian Pellet Prices as on 11 Jan’16
|
City |
Grade | Prices | W-o-W | M-o-M |
|
(Fe %) |
||||
| Barbil* | 63 | 3,200-3,300 | 0 | +250 |
| Jharsuguda | 63 | 3,900 | -100 | +350 |
| Durgapur | 63 | 4,000-4,200 | 0 | +400 |
| Raipur | 63 | 4,300-4,400 | 0 | +200 |
| Bellary | 62 | 4,350-4,400 | 0 | +50 |
| Kandla** | 63 | 4,200 | 0 | +100 |
Basic prices in INR/MT
* loaded to wagons
**delivered
Source: SteelMint Research
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