SteelMint’s bi-weekly domestic pellet (Fe 63%) index, PELLEX, stood at INR 8,100/tonne (t) DAP Raipur on 27 September, 2022. Three deals were reported for 23,500 t in this publishing window but only one was taken into consideration.
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.
- Three deals were reported in this publishing window but considered only one in this publishing window and hence calculation and accorded 50% weightage for T1 trade.
- Nine (09) firm offers, bids and indicative prices were reported. Six (05) were taken for price calculation and given another 50% weightage.
- SteelMint received two bids at INR 7,650-8,050/t FOR but only one was considered for calculation of the index.
Raipur-based pellet producers continue to keep offers stable at INR 7,900-8,000/t ($100-101/t) exw today. Godawari Power and Ispat Ltd (Fe 63.5%) offered pellets at INR 8,300/t ($102/t) exw.
Buyers are gradually showing some interest in buying pellets but still bulk bookings are absent. Buyers are mostly opting to watch the market and are eagerly waiting for NMDC’s iron ore price revision.
Last week NMDC’s iron ore auction from Chhattisgarh for DR-CLO fetched a premium of INR 450/t over the set base price of INR 4,957/t (excluding royalty, DMF and NMET).
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur was largely stable w-o-w to INR 31,800/t exw. Prices in Raipur also remained stable for the day.
Region-wise pellet offers and deals:
Leave a Reply