Indian pellet prices remain firm in week 25 amid limited buying interest. Pellet makers across India’s all major markets continue to hold offers in this week.
East India pellet makers continue to keep pellet offers unchanged. Barbil pellet offers are seen at INR 2,850-3,000/MT (loaded to wagons). Jamshedpur pellet offers have fallen by INR 100/MT W-o-W to INR 3,200/MT (basic).
Raipur pellet prices are seen at INR 3,900/MT (basic). And presently pellet offers are heard at these levels. Market participants are eyeing stability in pellet prices at present levels and expect prices to remain unchanged in the near term. Few market participants shared that if pellet sponge prices find support, pellet prices may show some gain as during monsoons pellet are preferred over iron ore lump.
Bellary pellet (Fe 63%) prices are assessed at INR 4,250/MT (basic). Pellet makers anticipate less fluctuation in prices in the near term.
Trade-wise:
- Raipur based pellet makers have concluded deals for around 40,000 pellets at INR 3,900/MT (basic) to sponge plants located in Durg, Nagpur and Chandrapur
- As per sources, a Jharsuguda pellet maker is heard offering pellets at INR 3,200/MT (basic)
- As per railway movement data tracked by SteelMint, BRPL has recently supplied a pellet rake to Prakash Industries. As per trade sources, Odisha pellet offers to Raipur are seen at INR 3,670/MT (landed)
Indian Pellet Prices as on 14 Jun’16
|
City |
Grade | Prices | W-o-W | M-o-M |
|
(Fe %) |
||||
| Barbil* | 63 | 2,850-3,000 | 0 | -150 |
| Jharsuguda | 63 | 3,400 | 0 | -100 |
| Jamshedpur | 63 | 3,200 | -100 | -150 |
| Durgapur | 63 | 3,300-3,500 | 0 | -50 |
| Raipur | 63 | 3,900 | 0 | -150 |
| Bellary | 63 | 4,250 | 0 | -50 |
| Kandla** | 63 | 4,800 | 0 | -400 |
Basic prices in INR/MT
* loaded to wagons
**delivered
Source: SteelMint Research
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