Few more east India pellet makers gear up for exports
Barbil pellet prices remain unchanged at INR 2,850-3,000/MT (loaded to wagons). Apart from JSPL, BRPL and Essar Steel few more east India pellet makers have started looking up for exports.
A Durgapur based pellet manufacturer shared ”Currently pellet offers remain unchanged at INR 3,200/MT (basic). Apart from this we are also giving discounts on bulk purchases. Amid dull demand in domestic market and rising global pellet prices we have also started looking up for exports. We are yet to finalize any deal”.
Another market participant shared that pellet export offers of Shyam Metaliks & Energy is USD 69.5/MT, FoB Paradip port.
Raipur pellet buying remained dull with no strong buying interest
Pellet makers in Raipur complained about dull pellet buying interest. Market sources in Raipur shared that no bulk deals were heard to happen this week and pellet makers continue to hold offers.
“With no major fluctuation in pellet sponge prices (currently at INR 11,300/MT ex-works, pellet offers also continue to remain stable. Buying interest is not at current offer levels and buyers are asking for price level of INR 3,750-3,800/MT, no pellet deals were heard to take place at this level”, quoted a Raipur based pellet manufacturer.
Bellary pellet offers remain unchanged
Pellet prices in southern India remained stable on weekly basis. Currently offers for Fe 63% pellets are seen at INR 4,200-4,250/MT (basic).
Indian Pellet Prices as on 29 Jul’16
|
City |
Grade | Prices | W-o-W | M-o-M |
|
(Fe %) |
||||
| Barbil* | 63 | 2,850-3,000 | 0 | -100 |
| Jharsuguda | 63 | 3,250 | -50 | -50 |
| Jamshedpur | 63 | 3,200 | 0 | 0 |
| Durgapur | 63 | 3,200-3,400 | 0 | 0 |
| Raipur | 63 | 3,850-3,900 | -50 | -50 |
| Bilaspur | 63 | 3,700 | +50 | – |
| Bellary | 63 | 4,200-4,250 | 0 | -100 |
Basic prices in INR/MT
* loaded to wagons
Source: SteelMint Research
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