SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, remained stable at INR 9,800/tonne (t) DAP Raipur today compared to the previous assessment on 21 March 2023. No deals were heard in this publishing window. Market participants were silent as the current financial year is going to end in next few days.
Rationale:
- PELLEX has been derived using data points, i.e. trades, offers and bids. To download the detailed methodology, Click here.
- No deal heard in this publishing window hence, accorded 0% weightage for T1 trade.
- Nine (9) firm offers, bids and indicative prices were heard. Five (5) were taken for price calculation and given the balance 100% weightage.
- Two (4) bids were received and none taken into the price calculation.
Raipur-based pellets producers kept offers (Fe 63%) stable at INR 9,900-10,500/t ($120-127/t) exw, stable against the last assessment. However, some of them offered pellets at INR 9,600/t exw this week.
Buyers did not show much interest in any kind of pellets bulk deal as this financial year is approaching towards an end. Bid-offer disparity also widened as iron ore from Chandrapur is available cheaper in the market.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur fell by INR 600/t w-o-w to INR 30,800/t exw. Prices remained stable d-o-d. Spot trading remained moderate throughout the week across regions. In addition, the ongoing downturn in steel prices also weighed on sponge iron prices this week.
Region-wise offers and deals:
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