SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, decreased by INR 200/t to INR 10,000/tonne (t) DAP Raipur compared to the last assessment on 3 March, 2023. No deal was reported in this publishing window due to low buying interest as market participants were quiet ahead of Holi festival.
Rationale:
- PELLEX has been derived using data points, i.e. trades, offers and bids. To download the detailed methodology, Click here.
- No deal was reported in this publishing window and accorded 0% weightage for T1 trade.
- Six (6) firm offers, bids and indicative prices were reported. Four (4) were taken for price calculation and given the balance 100% weightage.
Raipur-based producers kept prices stable today except a couple of pellet producers who lowered their offer prices by INR 200/t against previous offers. However, the market is silent and no deal was concluded this week.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur increased by INR 500/t w-o-w to INR 32,200/t exw. However, sponge iron prices remained stable d-o-d. The market was slow and demand for semi-finished and finished steel remained muted.
Region-wise offers and deals:
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