Recovery in sponge price keeps PELLEX stable

PELLEX remains stable at INR 5,900/wmt (DAP Raipur). Few deals are learned to be in negotiation at slightly lower than prevailing offers but are yet to be concluded.

SteelMint P-DRI assessment ( June 23, 2020) rebounded by INR 400/t to INR 15,000/t (ex-plant) as against the last assessment yesterday at INR 14,600/t (ex-plant).

Pellets offer from Raipur and nearby location-:

— Raipur based major pellet makers kept offers stable at INR 6,000/t (Ex-plant); normalizing for freight to Raipur at INR 6,150/t (DAP Raipur).

— Raigarh based pellet makers offer stable at INR 5,500-5,600/t (Ex-plant) in this window of Index.

Deals from other regions:

— Bellary based pellet makers have sold around 8,000 t pellets at around INR 5,900-6,150/t (Ex-plant) in the last three-four days.

Indian pellet export overview-:

— An Odisha based pellet maker has concluded around 25,000 t pellet export deal for Fe 64% grade pellets with 3% Al recently to Malaysia at around $115/t, CFR.

— In another deal, Odisha based pellet maker has also concluded a pellet export deal (Fe 64% grade pellets 3% Al) $112/t, CFR China.

Ex -Plant exports realization for pellet makers has come down by INR 100/t to around INR 5,900/t due to marginal decline in export offers and appreciation in India rupee today against $.

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