SteelMint’s bi-weekly domestic pellet index “PELLEX ” moved up by INR 100/t to INR 15,100/t DAP Raipur in the recent deals. Four deals with total quantity of 20,000 t pellet were reported in this publishing window at INR 14,350-14,800/t DAP, Raipur.
Raipur based pellet makers have kept the offers stable at INR 15,150-15,650/t DAP Raipur. Pellet makers from nearby regions (Odisha) have remained active in concluding deals in central India amid demand-supply mismatch. Raipur pellet makers have schedule dispatches for exports in the upcoming days. Raigarh and Jharsuguda based pellet makers have increased offers owing to limited offers in the market.
Chhattisgarh based plants are waiting for NMDC to announce prices. Odisha Mining Corp (OMC) has scheduled its next iron ore e-auction for 1.38 mn t iron ore fines on 10th May’21 and the miner has increased the base price by upto INR 1,880/t against the last e-auction held on 10th Mar’21.
Pellet sponge (P-DRI) prices in Raipur have increased by around INR 250/t w-o-w to INR 29,000/t exw today. On a daily basis, prices have remained stable.
Indian pellet market overview-:
India pellet prices have exhibited mixed response. Bellary and Jharsuguda based pellet makers have raised offers by around INR 250-500/t Barbil pellet prices have marginally weakened in a recent deal. Barbil based renowned pellet maker sold around 60,000 t pellet at INR 13,500/t (Loaded into the rakes) recently.
Durgapur and Kandla reported stability in offers.
Rationale – PELLEX has been derived using data points: i.e., trades, offers and bid. You can download the detailed methodology by clicking on this link Click here
- Four deals were reported in this publishing window and three were considered in the index calculation and kept the 50% weightage.
- Six firm offers were reported and three were offered from Raipur and the rest from outside Raipur. All were taken for price calculation and given a weightage of 50%.
Region-wise pellet offers and deals:
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