Pellet Prices in Odisha Fall Further by INR 200/MT

On the backdrop of falling demand and weakening sponge iron prices, Pellet prices in eastern India have declined further.

Pellet manufacturers in Odisha have further cut their offers to an extent of INR 200/MT on low demand and falling sponge iron prices. Current offers for 63% Fe Pellets are assessed at INR 4,500-4,600/MT (loaded to wagons) at Barbil (Odisha) siding, which was at INR 4,800/MT last week.

Similarly another manufacturer based in Jharsuguda (Odisha) is offering same grade at INR 5,200/MT on ex- plant basis, which was at INR 5,400/MT last week.

Odisha is one of the largest Pellet producing state in the country, which has an installed capacity of around 26 MnT, out of which 16 MnT is merchant and 10 MnT is captive.

Pellet Sponge (P-DRI) prices fall INR 1,300/MT M-o-M 

Pellet sponge prices have noticed a sharp correction of INR 1,300 M-o-M in eastern region of India on reopening of closed mines in Odisha. Market anticipates opening of mines will significantly increase supply and will put pressure on Iron ore prices. Private miners in Odisha have already cut prices by INR 400-700/MT on lump and INR 200-300/MT on fines.

Trade Wise

1. Pellet Prices in Durgapur (West Bengal) offers at INR 5,200/MT (Ex- Works)
2. Pellet Prices in Raipur (Chhattisgarh) at INR 5,800-6,000/MT (Ex- Works)
3. Pellet Prices in Kandla at INR 5,900-6,000/MT (delivered)
4. Pellet Prices in Bellary at INR 5,600-5,700/MT (Ex- Works)
5.Imported Lumps offers at USD 75-78/MT CIF India for June shipments

Indian Pellet Prices

Basic prices in INR/MT
*as per loaded into wagons
** delivered
Source: SteelMint