SteelMint’s bi-weekly domestic pellet (Fe 63%) index, PELLEX, stood at INR 9,200/tonne (t) DAP Raipur on 5 August, 2022, stable compared to the last assessment on 9 August. No deal was concluded this week so far as buyers held back purchases on falling sponge iron prices.
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.
- No deal was reported in this publishing window, hence not taken into consideration and accorded 0% weightage for T1 trade.
- Nine (09) firm offers, bids and indicative prices were reported. Seven (07) were taken for price calculation and given 100% weightage.
- SteelMint received one bids at around INR 8,150/t DAP but not considered for calculation of the index.
As per sources, buyers were silent due to high offers and volatility in the market. Pellet-based DRI (P-DRI, FeM 80%) prices in Raipur decreased by around INR 1,700/t w-o-w to INR 34,000/t exw.
Indian pellet market overview
- The current assessment for iron ore pellets (Fe 63%) in Durgapur fell marginally to INR 7,400-7,500/t exw.
- Iron ore pellet (Fe 63%) prices in Bellary, Karnataka, remained rangebound at INR 9,900/t exw today, as per SteelMint assessment. However. no deals were recorded in this publishing window.
Region-wise pellet offers and deals:
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