India: Over 200,000 MT Pellet Bookings Reported in Domestic Market

PELLEX stable at INR 6,150/wmt (DAP Raipur) amid deals from the nearby region. However, no deals were reported from Raipur pellet makers.

Pellet deals for around 5,000- 6,000 MT reported from Durg to Raipur market at INR 5,900/MT(Ex-plant); normalizing for freight to Raipur at INR 6,150/MT (DAP Raipur).
SteelMint P-DRI Assessment (Dec 06, 2019) down INR 200/MT W-o-W to INR 16,500/MT as against INR 16,700/MT (Ex-Raipur) last week.

Considering the landed cost of Lump and other factors like yield, conversion cost, etc for NMDC and Orissa; the substitute parity price for Pellet is INR 5,920/MT (DAP Raipur).

Trades from other regions-:

-- Kalinga Nagar based steelmaker has booked around 200,000 MT pellets from Odisha at around INR5,400/MT (Loaded to Rake).

-- Odisha based pellet maker has concluded around 5,000-6,000 MT pellet deal to Chandrapur (Maharashtra) at INR 5,500-5,550/MT (Ex-plant).

-- Bellary based pellet maker has sold 15,000-18,000 MT pellets at INR 6,150-6,200/MT (EXW) in the last two-three days.

-- KIOCL has concluded two pellet export vessels for 50,000 MT each consisting of Fe 64% content with less than 2% alumina at around USD 105/MT, FoB India.

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