India’s Domestic Pellet Market Trade Log – Week 50, 2018

This week pellet prices in eastern India witnessed some weakness and observed correction however offers in central India inched up on material availability issues.

Central India pellet offers inched up:  According to market sources, Raipur (central India) pellet offers increased from the last week assessment. Pellet offers from pellet makers are around INR 6,700/MT (ex-Raipur) against last week assessment at  INR 6,400-6,500/MT.

In the 2nd half of last week, central India based pellet maker – Godawari Power & Ispat concluded a deal for 75,000 MT pellets at INR 6,450-6,500/MT following which Raipur pellet makers raised offers on tighter supply concerns. However, very fewer trades were reported at increased offers.

P-DRI prices in Raipur also decreased by INR 100-300/MT to INR 20,100-20,300/MT against last week assessment at INR 20,400/MT.

Durgapur pellet prices weaken on falling sponge prices- Durgapur pellet prices have witnessed minor correction of and are assessed at INR 6,500-6,700/MT this week against last week’s assessment of INR 6,600-6,700/MT.

P-DRI prices have decreased by INR 800-900/MT to INR 19,900-20,100/MT against last week assessment at INR 20,800/MT.

India pellet trade updates-:

1. Southern India (Bellary) pellet prices have remained stable at INR 7,200-7,400/MT (basic) in line with the last week’s assessment.

2. NMDC is offering Fe 64% pellet from its Donimalai plant at INR 7,100/MT FoT, GST extra on advance payment basis.

3. West India based pellet maker – Jindal SAW offers has kept offers firm at INR 8,300/MT in, delivered Kandla, line with last week assessment.

4. Rourkela pellet offers were heard around INR 6,400/MT (basic).

Indian Pellet Reference prices as on 11th Dec’18

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