Central India Pellet Makers Raise Offers Following Hike in Sponge Prices

According to the market participants report to SteelMint, Raipur (central India) based pellet manufacturers are likely to increase offers to INR 8,000/MT as against end of last week's assessment of INR 7,000/MT (ex-Raipur, GST extra). The revised offers are likely to be effective from tomorrow (12 Feb'19).

Indian pellet prices have increased and hit 2-3 months high. Indian pellet makers are expecting hike in Indian pellet export prices. SteelMint's has learned from the market sources that for regular grade pellet (Fe 64+/-1%, 3% alumina) export also increased by USD 9-10/MT to USD 124-125/MT, CFR China which was USD 114-115/MT, CFR China earlier last week. Prices have increased on anticipated supply shortage post Vale dam collapse.

P-DRI price assessment of SteelMint has increased sharply by INR 2,300/MT to INR 21,700/MT against INR 19,400/MT a week ago.