SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, remained stable at INR 10,000/tonne (t) DAP Raipur today compared to the last assessment on 7 March, 2023. No deal was reported in this publishing window as market participants are yet to come back from the Holi festival holidays.
Rationale:
- PELLEX has been derived using data points, i.e. trades, offers and bids. To download the detailed methodology, Click here.
- No deal was reported in this publishing window and hence, accorded 0% weightage for T1 trade.
- Eleven (11) firm offers, bids and indicative prices were reported. Nine (9) were taken for price calculation and given the balance 100% weightage.
- Three (3) bids received out of which two (2) were taken into price calculation.
Raipur-based producers kept prices stable, however, buyers were a wait-and-watch mode on an expectation of a price cut in the coming week.
SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur increased by INR 350/t w-o-w to INR 32,150/t exw. However, sponge iron prices remained largely stable compared to the last assessment on 7 March. The market was slow and demand for semi-finished and finished steel remained muted.
Region-wise offers and deals:
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