SteelMint’s bi-weekly domestic pellet index ” PELLEX ” fell sharply by INR 500/t to INR 11,600/t, DAP Raipur. Raipur based pellet makers have lowered offers today by upto INR 800/t to INR 11,650-12,150/t (DAP, Raipur).
But as per the sources, buying interest is much below the revised offers. Another pellet maker from Raipur is offering pellet (Fe 62.5%) at 11,150-11,350/t (DAP, Raipur). Raigarh and Jharsuguda based pellet makers have also lowered offer further this week to INR 10,700-10,800/t exw.
One pellet deal was also reported in this publishing window. However, market participants are awaiting NMDC’s iron ore price announcement for Feb’21.
Pellet sponge (P-DRI) prices in Raipur have decreased on a weekly basis by INR 700/t to INR 22,900/t against last week price of INR 23,600/t. However, on a daily basis prices have increased by around INR 300/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 4,000 t at INR 11,350-11,450/t (DAP, Raipur) recently for both in and 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 three from outside Raipur at INR 11,300-11,750/t (DAP, Raipur) and given a weightage of 33.3%.
- One firm bid was 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:
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