JSPL Raises Pellet Prices Further by INR 350/MT

JSPL raises pellet prices amid increasing pellet sponge prices and limited pellet supply in Odisha.

Jindal Steel & Power has raised pellet prices further by INR 350/MT. Current offers for Fe 63% pellets are at INR 4,750/MT (loaded to wagons). Last week the company had raised prices by INR 150/MT to INR 4,400/MT (loaded to wagons).  However, the pellet maker has not received any bookings on the recent increased prices but it is positive about getting bookings at these prices.

The pellet maker has raised prices on the backdrop of sharp increase in pellet sponge prices and sufficient bookings received at its last offers of INR 4,400/MT (loaded to wagons). P-DRI prices have moved up by INR 1,000-1,500/MT W-o-W. Also, Arya Iron & Steel, a major pellet maker, is not offering pellets and is likely to undergo a maintenance shutdown for about a month, starting from September 1.

Last week,  JSPL loaded 8 pellet rakes to units based in Odisha, Jharkhand, West Bengal and Uttar Pradesh.

JSPL Pellet Rake Movement in Last Week

Source: Railways