SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, stood at INR 9,700/tonne (t) DAP Raipur, stable compared to the last assessment on 10 January, 2023. Around 18,000 t of pellet deals have been concluded in this 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 Click here.
- Two deals were reported and considered in this publishing window and accorded 50% weightage for T1 trade.
- Eleven (11) firm offers, bids and indicative prices were reported. Ten (10) were taken for price calculation and given the balance 50% weightage.
- SteelMint received two bids at INR 9,600-9,650/t DAP Raipur and both were considered for index calculation in this publishing window.
Raipur-based pellet producers kept their offers at INR 9,500-9,800/t ($116-120) exw. Godawari Power and Ispat’s offers for domestic pellets (Fe 6.5%, +/-0.5) stood at INR 9,800/t exw ($118/t).
Disparity in bids-offers narrowed down in the market as sponge and semi-finished steel prices increased today. However, deals are not happening in bulk.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur inched up to INR 32,350/t w-o-w as against INR 32,200/t exw on 6 January. Sponge iron prices increased by INR 500/t d-o-d as against INR 32,000/t exw on 13 January.
Region-wise offers and deals:
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