SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, stood at INR 8,900/tonne (t), stable compared to the last assessment on 13 December, 2022. Around 5,000 t of deals were reported in this current publishing window.
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.
- One deal was reported and was taken into consideration in this publishing window and accorded 50% weightage for T1 trade.
- Nine (9) firm offers, bids and indicative prices were reported. Six (6) were taken for price calculation and given the balance 100% weightage.
- SteelMint received only one bid at INR 8,800/t DAP Raipur which was not considered for index calculation in this publishing window.
Raipur-based pellets producers kept their offers at INR 8,800-8,900/t ($106-108/t) exw. Meanwhile, Godawari Power and Ispat’s offers for domestic pellets (Fe63.5%, +/-0.5) stood at INR 9,200/t exw ($111/t) from INR 8,800/t exw ($106/t) on 28 November.
Buyers are now showing interest in pellets. However, market participants are still in a wait-and-watch mode. No transactions were reported this week so far.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur moved down to INR 30,100/t w-o-w as against INR 30,900/t exw on 9 December. However, sponge iron prices increased by INR 200/t d-o-d as against INR 30,000/t exw on 11 December.
Region-wise pellets offers and deals:
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