Declining pellet sponge prices in southern India have pulled down domestic pellet offers. Bellary pellet offers have come down by INR 150/MT W-o-W and are heard at INR 5,700/MT for Fe 63% pellets.
P-DRI prices in Bellary have come down by INR 500/MT W-o-W.
However across other major markets, pellet prices continues to remain stable this week except Jharsuguda where prices have come down by INR 200/MT W-o-W on limited buying interest.
Indian Pellet Prices as on 31 Jan’17
|
City |
Grade (Fe %) | Prices | W-o-W |
Remarks |
| Barbil* | 63 | 4,400-4,500 | = | Arya Iron & Steel and Jindal Steel & Power continue to hold offers at last week levels |
| Jharsuguda | 63 | 4,400 | -200 | Amid limited buying interest, Shyam Metaliks & Energy has reduced pellet offers this week |
| Durgapur | 63 | 4,500 | = | Sharp decline in P-DRI prices (down by INR 700/MT W-o-W) has reduced pellet buying inquiries |
| Jamshedpur | 63 | 4,200 | +50 | Adhunik Metaliks continues to keep pellet offers firm |
| Raipur | 63 | 4,700 | = | Market participants reported that few deals were concluded at INR 4,700/MT last week. However declining P-DRI prices may result in fall in pellet price fall. |
| Bellary | 63 | 5,700 | -150 | Pellet offers have come down by INR 150/MT on weekly basis in line with fall in sponge offers. |
Basic prices in INR/MT
*loaded to wagons
Source: SteelMint Research
Trade-wise:
1. Bilaspur based Rashi Steel kept reduced pellet offers to INR 4,600-4,700/MT (ex-Bilaspur). The pellet maker has concluded a deal for supply of 10,000 MT pellets to Champa at INR 4,650/MT (ex-Bilaspur).
2. Southern India pellet maker – MSPL is offering Fe 65% pellets at INR 6,050/MT
Leave a Reply