Indian Pellet Trade Log – Week 41

Pellet prices in Barbil, Durgapur and Bellary have increased up to INR 300/MT W-o-W but remained stable in other parts of the country.

As per trade sources report, Barbil based Arya Iron & Steel has resumed giving offers for domestic market. Present offers are at INR 3,850/MT (loaded to wagons). Few pellet makers in Durgapur have raised offers over increase in fines prices by Odisha merchant miners. Pellet offers in Durgapur are hovering in the range of INR 4,300-4,800/MT (basic).

Central India pellet offers continue to remain stable on weekly premises as market participants are waiting for NMDC’s iron ore price revision. Presently offers for Fe 63% pellets are heard in the range of INR 4,900-4,950/MT (basic).

Bellary pellet offers moved up by INR 250/MT W-o-W. However, in the last couple of days, sponge iron prices have fallen over sluggish demand. P-DRI prices have declined in Bellary by INR 400-500/MT W-o-W, which in turn, failed to maintain pellet buying interest at present offers.

Trade-wise

1. Southern India based pellet maker – MSPL has raised pellet offers by INR 200/MT. Present offers for Fe 65% pellets are at INR 5,700/MT (basic).

2. Bilaspur based pellet maker – Rashi Steel & Power is offering pellets at INR 4,900/MT (ex-Bilaspur)

3. Rourkela based Shri Mahavir Ferro Alloys is currently offering pellets at INR 4,400 – 4,500/MT (ex-plant)

4.  A Raipur based pellet maker sold nearly 3,000 MT pellets to a Raipur based sponge plant at INR 4,900/MT (basic)

5. Raipur based Jayaswal Neco pellet offers are at INR 5,000/MT (after VAT exemption).

6. Keonjhar (Odisha) based pellet maker Ardent Steel resumed pellet production yesterday i.e 3 oct’16.

Indian Pellet Prices as on 27 Sept’16

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