SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, stood at INR 10,250/tonne (t), stable compared to the last assessment on 20 January, 2023. No deals were reported in this current publishing window due to sufficient inventories with buyers.
Rationale:
- PELLEX has been derived using data points, i.e. trades, offers and bids. To download the detailed methodology, Click here.
- No deal was reported hence not considered in this publishing window and accorded 0% weightage for T1 trade.
- Ten (10) firm offers, bids and indicative prices were reported. Five (05) were taken for price calculation and given the balance 100% weightage.
- SteelMint received one bid at INR 9,950/t DAP Raipur which was not considered for index calculation in this publishing window.
Raipur-based pellet producers offered at INR 10,100-10,200/t ($124-$126/t) exw. Godawari Power and Ispat’s offers for domestic pellets (Fe 6.5%, +/-0.5) stood at INR 10,500/t exw ($129/t) as against INR 10,100/t exw ($124/t) previously.
Market participants are waiting for NMDC’s price revision which is expected soon. Meanwhile, the market was mostly in wait-and-see mode today.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur decreased by INR 550/t w-o-w to INR 32,000/t. On a daily basis, sponge iron prices decreased by INR 200/t.
Region-wise offers and deals:
Leave a Reply