Central India: Pellet Trades Pick Up in Domestic Market

Market sentiments in Rapur domestic pellet market improved this week following sharp hike in pellet sponge prices yesterday. Two deals for pellets for 10,000 and 16,500 MT reported yesterday at INR 6,100-6,200 (ex- Raipur) from Raipur based pellet makers.

Raipur (central India) based pellet manufacturers have kept the pellet offers unchanged. Current offers for Fe 63% grade pellet at INR 6,200/MT (ex-Raipur, GST extra) in line with the last week assessment.

P-DRI prices in Raipur witnessed increase sharply by INR 800/MT to INR 16,600/MT (basic) compared to INR 15,850/MT (Ex-Raipur) last week. P-DRI prices in Raipur increased sharply D-o-D by INR 800/MT to INR 16,500/MT against yesterday offers at INR 15,700/MT (Ex-Raipur) amid improve trades.

Durgapur pellet offers stable amid hike in sponge prices -: In Durgapur SteelMint's reference, pellet price assessment stands at INR 5,700-5,800/MT in line with last week assessment.

P-DRI prices increased sharply W-o-W by INR 1,200/MT to Durgapur at INR 16,450/MT against last week assessment of INR 15,150/MT.

Southern India pellet offers increased marginally -: Southern India (Bellary) based pellet makers have increased prices marginally to INR 6,200-6,300/MT against last week assessment at INR 6,100-6,300/MT. P-DRI prices in Bellary is at INR 15,900-16,100/MT (ex-Bellary) against INR 15,800-15,900/MT last week.

Indian pellet trade updates-:

-- Jamshedpur offers for pellet comes down to INR 5,100-5,300/MT (Ex-plant).

-- Jajpur based Brahmani River Pellets offers down to INR 7,100/MT for Kalinganagar based units. A weeks back offer was INR 7,300/MT.

-- West India (Rajasthan) based pellet maker - Jindal SAW kept pellet (Fe 63%) offers unchanged for the week. Current offers are at INR 7,800/MT (delivered Kandla).

SteelMint pellet reference prices as on 13th Aug'19

**delivered
*Loaded to wagon
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research