SteelMint’s bi-weekly domestic pellet index, PELLEX, increased marginally by INR 50/t to INR 14,750/t DAP Raipur on 30 Jul’21. A couple of Raipur-based pellet producers sold a decent quantity – around 45,000 t – in the domestic market at INR 14,650/t DAP Raipur within this publishing window.
Central India-based steelmaker, Godawari Power and Ispat Ltd (GPIL), has resumed pellet offers for the domestic market after a gap of around two months. Current offers stand at INR 15,000/t exw, SteelMint learnt from sources. However, other producers are offering pellets at around INR 14,500/t exw. A pellet maker who was on maintenance shutdown has resumed operations this week.
A Jharsuguda-based producer has decreased offers by INR 200/t to INR 14,600/t exw. On the other hand, pellet offers from Raigarh stand stable at INR 14,800/t exw.
SteelMint’s benchmark pellet sponge (P-DRI, FeM 80%) prices rose by INR 600/t w-o-w to INR 30,300/t exw Raipur on 30 Jul. However, on a daily basis, P-DRI prices decreased by around INR 100/t. A marginal fall in billet offers led to a mild decline in sponge prices today.
Indian pellet market overview-: Durgapur-based pellet manufacturers have decreased their offers due to bearish market sentiments.
SteelMint’s assessment for Durgapur pellet (Fe 63%) stands at INR 14,350/t exw, down by INR 150/t against the previous assessment.
On the other hand, iron ore pellet (Fe 63%) prices in south India’s Bellary market slipped by INR 300/t to stand at INR 13,000/t exw as against the previous assessment of INR 13,300/t exw on 27 Jul’21.
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.
- Deals of 45,000 t reported in this publishing window and considered as T1 for index calculation being given a 50% weightage.
- Nine (09) firm offers and indicative prices were reported. Five were from Raipur and the rest from outside the state capital. Five were taken for price calculation and given a weightage of 50%.
- SteelMint received no bids today for the calculation of the index.
Region-wise pellet offers and deals:
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