India’s Domestic Pellet Market Observes Less Trades

This week pellet prices in Indian domestic market witnessed decline further and market also observed limited trades.

Durgapur pellet prices weaken further- Durgapur pellet prices have witnessed down by INR 100-200/MT to INR 6,400/MT this week against last week’s assessment of INR 6,500-6,700/MT. Trade sources reported limited trades at these prices. P-DRI price has remained stable at INR 19,600-19,800/MT in line with last week’s assessment.

Limited offers heard in Central India pellet market – Not many Raipur based pellet makers were heard offering pellets this week. Current assessment for Raipur pellet stands at around INR 6,200-6,500/MT (ex-Raipur) against last week assessment at INR 6,700/MT. Market participants indicated the reduction in Raipur pellet offers in near term.

P-DRI prices in Raipur increased by INR 200-400/MT to INR 20,200-20,400/MT against last week assessment at INR 20,100/MT.

Southern India Pellet inch down after shown stability- Southern India (Bellary) pellet prices have declined to INR 7,200-7,300 (basic) against last week’s assessment of INR 7,200-7,400/MT.

P-DRI price is decreased by INR 200-400/MT to INR 19,800-20,000/MT against INR 20,000-20,200/MT last week assessment.

India pellet trade updates-:

1. West India based pellet maker – Jindal SAW offers has kept offers firm at INR 8,300/MT in, delivered Kandla.

2. Jajpur based Brahmani River Pellet is also declined at INR 6,800/MT (Ex-plant).JSPL is not offering in the domestic pellet market.

Indian Pellet Reference prices as on 18th Dec’18

**delivered
*loaded to wagons
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research