Central India Pellet Makers Raise Offer Following Hike in Sponge Prices
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Raipur (Central India) based pellet makers have increased offers by INR 100/MT to INR 6,100/MT (Ex-Raipur) against the end of the last week's assessment at INR 6,000/MT. Deals in limited quantities have been reported at current quoted offers. P-DRI prices in are also increased to INR 18,800-19,000/MT against INR 18,700/MT. It was learned that a major pellet maker was not offering material amid the shutdown.
Jindal SAW pellet offers up amid hike in global iron ore index - West India (Rajasthan) based pellet maker - Jindal SAW has increased pellet prices further this week by INR 200/MT. Current offers for Fe 63% grade pellets have moved up to INR 8,000/MT (delivered Kandla) against the previous assessment of INR 7,800/MT against the last week assessment. Jindal SAW runs a 1.5 MnT pellet plant in Bhilwara (Rajasthan).
Spot iron ore prices increased amid increased sharply yesterday by 4% post Vale dam disaster in Minas Gerais state (Brazil). Fe 62% fines price increased to USD 78.7/MT, CFR China which was USD 75.4/MT, CFR a week ago. Assessment for South African lump is around USD 95/MT, CFR India.
Durgapur pellet offers up following increased sponge prices - Durgapur pellet prices have witnessed up by INR 100-300/MT to INR 5,800-6,000/MT this week against last week's assessment of INR 5,700-5,800/MT. P-DRI prices have also increased by INR 400/MT to INR 19,400/MT against last week at INR 19,000/MT.
Barbil based pellet offer is around INR 5,000/MT (loaded to wagon) this week stable compared to last week assessment.
Southern India Pellet offers almost stable- Southern India (Bellary) pellet prices have offers seem to be mostly stable to INR 6,700-6,900/MT (basic) against the last week's assessment. P-DRI price increased to INR 18,700/MT against last week assessment INR 18,500/MT.
Indian pellet trade updates-:
1. Raigarh based pellet maker is offering pellets at INR 5,600/MT (Ex-Plant).
2. Jajpur based Brahmani River Pellets is offering pellets at INR 6,250/MT (ex-plant).
Indian Pellet Reference prices as on 29th Jan'19
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Barbil* | 63 | 5,000 |
| Jharsuguda | 63 | No offers |
| Durgapur | 63 | 5,800-6,000 |
| Jamshedpur | 63 | 5,100-5,200 |
| Raipur | 63 | 6,100 |
| Bellary | 63 | 6,700-6,900 |
| Kandla** | 63 | 8,000 |
**delivered
*loaded to wagons
