PELLEX fell by INR 50/MT to INR 6,000/wmt (DAP Raipur) in this publishing window. No pellet deal has been concluded at increased offers of INR 6,000/MT EXW- Raipur.
However, as per the market participants, a major Raipur based pellet maker sold around 10,000 MT pellets outside Raipur at INR 5,850-5,900/MT (DAP Raipur) but the deal has not been confirmed from the seller side at the time of publishing this Index.
SteelMint observed that from the last one week that pellet deals in the domestic Raipur market have receded due to increased offers from the pellet manufacturer and the volatile sponge market.
SteelMint P-DRI assessment ( May 29, 2020) moved down by around INR 250/MT to INR 16,200/MT(EXW Raipur) as against last assessment (on 26th May 2020) at INR 16,450/MT.
Pellets offer from Raipur and nearby location-:
— Raipur based pellet offers stable at INR 6,000/MT( Ex-plant); normalizing for freight to Raipur at INR 6,150/MT (DAP Raipur).
— Raigarh based pellet maker increased the offers at INR 5,600-5,700 (Ex-plant) this week. One of the major pellet makers continue to not offering pellets owing to plant maintenance.
Deals from other regions-:
— Bellary based pellet makers have sold around 15,000 MT pellets at around INR 6,000-6,300/MT (Ex-plant) in the last two-three days.
— Raigarh based pellet maker has concluded around 20,000 MT pellet deal in the local Raigarh market at around INR 5,600/MT.
— Rourkela based pellet maker has concluded around 5,000-7,000 MT pellet recently for Raigarh at INR 5,400/MT (Ex-plant).
India Pellet Export deals-:
— Southern India based pellet maker – KIOCL has concluded a pellet export deal for 55,000 MT via tender yesterday (i.e 28th May), of Fe 64% grade pellets with 2% Al at around USD 107/MT, FoB India for June dispatches.
— Few days back, an Odisha based pellet maker concluded a pellet export deal for around 50,000 MT pellets (Fe 64% grade with around 3% Al) at around USD 113/MT, CFR China for June shipment.
SteelMint assessment for Fe 64% grade pellets with 3% Al stands stable this week at USD 111-113/MT, CFR China same against the last week assessment.
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