SteelMint’s bi-weekly domestic pellet (Fe 63%) index, PELLEX, has fallen by INR 100/t to INR 13,000/t DAP Raipur on 6 Nov’21. No deals were reported in this publishing window.
Central India-based pellet makers kept their offers stable for the domestic market, sources informed SteelMint. Current offers for pellets (Fe 63%) stand at INR 13,000-13,300/t exw-Raipur.
Sellers in Odisha’s Jharsuguda have kept their offers stable at INR 12,000/t exw; however, market participants expect prices to fall by INR 200/t early next week.
The market was in the grip of festive fervour and limited buying happened this week.
NMDC has kept iron ore prices unchanged for Nov’21 deliveries. The company’s sales from its Chhattisgarh mines were up 29%, m-o-m, in Oct. The prices for DR CLO (10-40mm, Fe 67%) are at INR 6,910/t, Baila lump (6-40mm, Fe 65.5%) INR 5,950/t, and Baila fines (Fe 64%) INR 4,760/t. Prices are on FOR basis and royalty and other taxes are extra.
Indian pellet market overview: Bellary iron ore pellet (Fe 63%) prices have remained range-bound at INR 12,000-12,100/t. However, offers in western India remain unchanged. Offers are likely to be revised downwards next week.
Rationale:
- PELLEX has been derived using data points: i.e. trades, offers and bids. You can download the detailed methodology by clicking on this link Click here
- Twelve (12) firm offers and indicative prices were reported. Eight (08) were taken for the price calculation and given a weightage of 50%.
- SteelMint has received no bids and, therefore, not considered for calculation of the index.
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