PELLEX down by INR 250/MT to INR 6,550/wmt (DAP Raipur). One of the pellet maker from Raipur concluded 5,000 MT deal to Raipur at INR 6,400/MT( Ex-plant); normalizing for freight to Raipur at INR 6,550/MT (DAP Raipur) in this publishing window.
Major Raipur based pellet makers kept the offers stable at INR 7,400/MT( Ex-plant). One of the pellet makers from Raipur offer at INR 6,400/MT( Ex-plant). Another pellet maker from Raipur is on maintenance shutdown.
SteelMint P-DRI assessment (Feb 11, 2020) stable W-o-W to INR 18,700/MT (Ex-plant) in line with last week’s offer.
No pellets export deal heard in this publishing window. Few Indian pellet exporters have floated tenders, however, limited response was observed. SteelMint assessment for standard grade pellets (Fe 64%, 3% Al) stands at USD 120/MT, CFR China.
India Pellet Trade Log-:
— As per sources, JSW booked around 40,000-45,000 MT pellets from Bellary last week at INR 6,900-7,000/MT(Ex-plant). Bellary based major pellet makers sold around 5,000 MT pellets for Fe 63% grade at INR 7,200/MT yesterday. Bellary pellet prices have been moved up amid supply tightness. Few pellet makers from Bellary have taken maintenance shutdown.
SteelMint pellet reference prices as on 11th Feb’20
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Durgapur | 63 | 6,200-6,300 |
| Barbil* | 63 | 6,100-6,200 |
| Jamshedpur | 63 | 6,100-6,300 |
| Bellary | 63 | 7,100-7,200 |
| Jajpur | 63 | 7,000 |
| Kandla** | 63 | 8,100 |
**delivered
* Loaded to wagon
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
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