Reduced buying interest has further pulled down pellet offers in central India and some parts in eastern India. Pellet prices are down by INR 100-150/MT W-o-W.
Despite lowering of pellet offers buying interest still seems to be weak at current offers. Durgapur pellet offers are in the range of INR 3,700-3,900/MT (basic). Barbil pellet offers remain unchanged at INR 3,000/MT (loaded to wagons).
Raipur pellet offers have fallen by INR 150/MT W-o-W and are currently at INR 4,000/MT (basic).
Southern India based pellet manufacturers have also reduced their offers over cheap availability of domestic lump in e-auction. Prices of lump (Fe 62%) offered by private miners are in the range of INR 1,800-1,900/MT (basic). While those of NMDC Kumarswamy mines are at INR 1,400/MT (basic) for Fe 62.7% lump.
Jindal SAW raises pellet offers in line with increasing imported lump offers
Amid increase in imported lump offers, domestic pellet offers in western India have also moved up.
Jindal SAW has raised pellet offers by INR 100/MT. Current offers for Fe 63% pellets are at INR 4,300/MT and for Fe 65% pellets are at INR 4,600/MT (delivered Kandla, CST extra). However as per market sources no fresh bookings have been received so far at new prices and buyers are procuring their previous bookings.
Indian Pellet Prices as on 01 Feb’16
|
City |
Grade | Prices | W-o-W | M-o-M |
|
(Fe %) |
||||
| Barbil* | 63 | 3,000 | 0 | -250 |
| Jharsuguda | 63 | 3,700 | -100 | -300 |
| Durgapur | 63 | 3,700-3,900 | -100 | -300 |
| Raipur | 63 | 4,000 | -150 | -350 |
| Bellary | 62 | 4,000-4,200 | -150 | -250 |
| Kandla** | 63 | 4,300 | 0 | +100 |
Basic prices in INR/MT
* loaded to wagons
**delivered
Source: SteelMint Research
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