PELLEX Stable at INR 7,500/wmt (DAP, Raipur) Amid No Trades

PELLEX stable at INR 7,500/wmt (DAP, Raipur). No pellet deals heard from Raipur pellet makers in this publishing window.

Major Raipur based pellet makers kept the offers stable at INR 7,400/MT( Ex-plant); normalizing for freight to Raipur at INR 7,550/MT (DAP Raipur). One major Raipur pellet maker has closed its sales for now.

SteelMint P-DRI Assessment (Jan 21, 2020) decreased by INR 500/MT W-o-W to INR 19,100/MT as against at INR 19,600/MT (Ex-Raipur) a week before.

Raigarh based pellet makers offer at INR 7,000- 7,200/MT (EXW). Jharsuguda based pellet maker is offering pellets at INR 6,700/MT (EXW), down by INR 200-300/MT W-o-W.

NMDC Ltd raised iron ore prices last weekend. Iron ore fines prices increased by INR 350/MT, Baila lump by INR 400/MT and DR CLO by INR 470/MT.

Indian pellet trade log – Week 4, 2020

1.Durgapur based pellet maker has concluded 15,000 MT pellet deal at INR 6,500/MT (EXW).  Prices have come down by INR 500/MT W-o-W amid decline in sponge prices resulting in limited inquiries.

2.A Jamshedpur based pellet maker concluded about 10,000 MT pellet deal at INR 6,300-6,400/MT (EXW) yesterday.

3.Bellary based pellet makers sold around 23,000 MT pellets at INR 7,100-7,300/MT (EXW).

4.SteelMint’s assessment for Fe 64%, 3% Al pellets, has moved up by USD 2/MT W-o-W to USD 120-122/MT, CFR China this week.

* Loaded to wagon
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research

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