In week 29, pellet offers across all major markets have remained unchanged except west India where offers have gone up by INR 150/MT W-o-W.
In line with increasing iron ore prices in global market, domestic pellet offers in western India have also moved up. Rising prices of iron ore in global market, have made imported lump further costlier over which Gujarat based participants are preferring domestic material.
Jindal SAW pellet offers for Fe 63% pellets which were seen at INR 5,000/MT (delivered Kandla) last week have now increased to INR 5,150/MT (delivered Kandla).
Barbil pellet offers remain unmoved at INR 2,850-3,100/MT (loaded to wagons). Durgapur based pellet offers are assessed in the range of INR 3,200-3,500/MT (basic).
Raipur based pellet makers concluded some bulk deals at INR 3,800/MT – Raipur pellet makers are heard giving offers of INR 3,800/MT (basic) on bulk quantity bookings. Also market sources highlighted that Raipur based pellet manufacturers have recently concluded bulk quantity pellet deals in Chhattisgarh as well as Maharastra at INR 3,800/MT (basic). However for small quantity the offers are at INR 3,850/MT.
Market sources mentioned that landed cost of Jharsuguda (Odisha) pellets are at INR 3,800/MT (excluding CST).
Southern India pellet offers stable at INR 4,200-4,250/MT (basic) – Pellet manufacturers in southern India continue to hold offers unchanged against last week. Fe 63% pellet offers are seen hovering in the range of INR 4,200-4,250/MT (basic).
Indian Pellet Prices as on 13 Jul’16
|
City |
Grade | Prices | W-o-W | M-o-M |
|
(Fe %) |
||||
| Barbil* | 63 | 2,850-3,100 | 0 | +100 |
| Jharsuguda | 63 | 3,300 | 0 | -100 |
| Jamshedpur | 63 | 3,200 | 0 | 0 |
| Durgapur | 63 | 3,200-3,500 | +150 | -50 |
| Raipur | 63 | 3,850 | 0 | -50 |
| Bellary | 63 | 4,200-4,250 | 0 | -50 |
| Kandla** | 63 | 5,150 | +150 | +350 |
Basic prices in INR/MT
* loaded to wagons
**delivered
Source: SteelMint Research
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