Central India: Raipur Based Pellet Markers Hike Offers
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Raipur pellet market has observed deals of around 20,000 MT quantities this week at increased offers. Market sentiments remained positive amid increased offers by Raipur based Pellet makers by INR 200/MT to INR 7,400/MT (Ex-Plant).
As per the sources, few pellet makers from Raipur have put there offers on hold for the next few days. Pellet offers in Durgapur were assessed stable against the closing of last week.
Jindal SAW is under maintenance shut down and it is expected to resume fresh offers by the end of Jan 2020. The last bookings were made at INR 8,350/MT (Delivered Kandla).
India Pellet trade log-:
-- Pellet deals for around 20,000 MT reported to Raipur sponge makers at INR 7,400/MT(Ex-plant).
-- Bellary based pellet makers sold small quantity around 3,000MT pellet for Fe 63% grade at INR 7,100/MT recent. Another major pellet maker from Bellary sold around 20,000 MT pellets for both the grades (Fe 63 and 65%) at INR 7,500-8,000/MT (EXW).
P-DRI offers for both the Raipur and Bellary region seem stable from the last two days. As per the sources buyers have already purchased material and have sufficient stocks for quite some days.
SteelMint P-DRI Assessment (Jan 07, 2020) increased by INR 900/MT W-o-W to INR 20,100/MT as against INR 19,200/MT (Ex-Raipur) a week before.
SteelMint pellet reference prices as on 07th Jan'20
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Durgapur | 63 | 6800-7,000 |
| Barbil* | 63 | 6,500-6,600 |
| Jamshedpur | 63 | 6,700 |
| Raigarh | 63 | 7,000-7,200 |
| Bellary | 63 | 7,200-7,500 |
| Jajpur | 63 | 7,050 |
| Kandla** | 63 | 8,350 |
**delivered
* Loaded to wagon
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
