SteelMint’s bi-weekly domestic pellet index “PELLEX ” has decreased sharply INR 800/t to INR 16,000/t DAP Raipur. One deal was reported in this publishing window for around 5,000 t pelllet from nearby Raipur at INR 15,700-15,900/t, DAP Raipur.
Pellet offers decline sharply – Raipur (Central India) based pellet manufacturers have decreased offers by around INR 1,000/t. The current offer for Fe 62.5/63% pellet stands at INR 15,500-16,000/t exw Raipur.
Pellet offers from Jharsuguda and Raigarh have fallen by around INR 600-700/t against last week.
Buyers remain on side-lines, resale offers decline – Majority of buyers are seen adopting ‘wait and watch’ approach for pellet procurement amid falling sponge prices in the market. Also, since they have pending deliveries of previous bookings, hence they are not in hurry to make fresh purchases.
Few sponge makers in Raipur have lowered the pellet resale offer around INR 1,500/t to INR 14,500/t (exw), however no deal has been heard so far .
Pellet sponge (P-DRI) prices in Raipur have decreased further on low buying by around INR 1,700/t w-o-w to INR 28,700/t exw today However, on a daily basis prices have decreased by INR 400/t.
Indian pellet market overview-: Indian pellet prices in all the pellet making regions continued to fall around INR 400-1,200/t in this week so far following disparity in bid and offer. Demand and inquiry for pellet remained affected as the sponge prices have been on downtrend.
Rationale – PELLEX has been derived using data points: i.e., trades, offers and bid. You can download the detailed methodology by clicking on this link Click here
- Single deal was reported in this publishing window for the index calculation and kept the 50% weightage.
- Six firm offers and indicative price were reported, three were offered from Raipur and the rest from outside Raipur. All were taken for price calculation and given a weightage of 50%.
- SteelMint has also received one bid and resale pellet offer from buyer side but not included in price calculation in this publishing window as that were not qualified under SteelMint methodology.
Region-wise pellet deals and offers:
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