SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, stood at INR 9,250/tonne (t), stable compared to the last assessment on 20 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.
- Eight (08) firm offers, bids and indicative prices were reported. Seven (07) were taken for price calculation and given the balance 50% weightage.
- SteelMint received two bids at INR 9,100-9,150/t DAP Raipur which was not considered for index calculation in this publishing window.
Raipur-based pellets producers kept their offers stable at INR 9,200/t ($109-111/t) exw. Meanwhile, Godawari Power and Ispat’s offers for domestic pellets (Fe63.5%, +/-0.5) stood at INR 9,500/t exw ($115/t) from INR 9,200/t exw ($111/t) on 7 December.
At the current market bids and offer disparity are coming down as the few deals were reported for increased offer. However, buyers still keeping themselve aloof from bulk buying.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur moved up to INR 30,750/t w-o-w as against INR 30,200/t exw on 16 December. Sponge iron prices increased by INR 350/t d-o-d as against INR 30,400/t exw on 22 December.
Region-wise pellets offers and deals:
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