PELLEX stable at INR 6,650/wmt (DAP Raipur). Towards the end of last week deals of 3,000 MT pellets concluded to Chandrapur at INR 6,500/MT (Ex-plant); normalizing for freight to Raipur at INR 6,650/MT (DAP, Raipur).
This week, pellet deals for minimal quantity (around 2,000 MT) reported from Raipur market at INR 7,000/MT (Ex-plant); normalizing for freight to Raipur at INR 7,150/MT (DAP, Raipur). As the deal was not falling under SteelMint methodology (less than 2,500 MT), not considered for Pellex calculation. No significant quantity was reported at the increased offers.
Raipur based pellet offers increased by INR 400/MT to INR 7,000/MT( Ex-plant); normalizing for freight to Raipur at INR 7,150/MT (DAP Raipur).
SteelMint P-DRI Assessment (Dec 24, 2019) increased sharply by INR 1,400/MT W-o-W to INR 18,800/MT as against INR 17,400/MT (Ex-Raipur) last week.
One Pellet export deal was heard in this publishing window from Odisha based pellet maker at around USD 113/MT, CFR, China. However, SteelMint Pellet export assessment for the regular grade (Fe 64% and 3% Al) stands at USD 101-102/MT, FoB India.
Pellet Trade from other regions-:
— Raigarh based pellet maker has sold around 4,000 MT pellet deals at INR 6,400/MT (EXW) yesterday.
— Bellary based pellet makers have sold around 10,000MT pellets at the range of INR 6,300-6400/MT (EXW) in the last couple of days. Mostly pellet makers from Bellary are on wait and watch mode, as they are not offering in the market aggressively.
Click here to see SteelMint Pricing Methodology and Rationale documents.
To provide feedback/suggestions, please contact info@steelmint.com
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