SteelMint’s bi-weekly domestic pellet index ” PELLEX ” decreased marginally by INR 50/t to INR 11,550/t, DAP Raipur on limited deals. Raipur based pellet makers have kept offers stable at INR 11,650-12,150/t (DAP, Raipur), however buying interest at quoted offers have remained low on current offers.
Another pellet maker from Raipur sold around 5,000 t pellet for Fe 62.5% grade at INR 10,950/t (DAP, Raipur) to outside Raipur. Jharsuguda and Raigarh based pellet makers have also lowered offer further this week to INR 10,200/t and INR 10,300-10,400/t exw respectively.
One resale pellet deal was also reported from Raipur in this publishing window. Towards the end of last week National Mineral Development Corporation (NMDC) reduced iron ore prices around 12% from its Chhattisgarh mines for Feb’21.
Pellet sponge (P-DRI) prices in Raipur have remained stable on a weekly basis to INR 23,200/t against last week. However, on a daily basis prices have increased by around INR 200/t.
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.
- One deal has been concluded for 5,000 t at INR 10,950/t (DAP, Raipur) recently for outside Raipur this week. Therefore, it was considered for price calculation and weightage given 66.7%.
- Four firm offers from Raipur players were reported this week and all offers were taken for price calculation at INR 11,450-12,150/t (DAP, Raipur) and the rest four from outside Raipur at INR 10,800-11,250/t (DAP, Raipur) and given a weightage of 33.3%.
- Two firm bids were reported in this publishing window but not considered for price calculation and given 0% weightage in the index.
Calculation of Index:
Source-: SteelMint
Region-wise pellet deals and offers:
Leave a Reply