India: Domestic Pellet Offers in Eastern India Increase Amid Resurgence in Demand
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Domestic pellet prices in eastern India have witnessed an increase up to INR 50- 250/MT W-o-W. However, in other major pellet markets prices have spurred slightly this week.
Eastern India based pellets makers shared good buying interest due to increasing sponge prices. In Durgapur (eastern India) pellet price assessment has increased INR 250/MT W-o-W. Reference pellet price assessment for Durgapur stands at INR 5,500-5,600/MT (delivered) this week. P-DRI prices have increased sharply by INR 1,200/MT W-o-W to INR 20,200/MT (delivered) against INR 19,000/MT (delivered) last assessment.
Also, Jharsuguda based major pellet manufacturer - Shyam Metaliks & Energy has increased its pellet usage for captive purpose resulting in fewer supplies in the merchant market.
Improved trades this week have also supported pellet prices.
Indian pellet market update: Week 16, 2018
1. Southern India (Bellary) based pellet manufacturers have reduced pellet offers by INR 100/MT. Current price assessment for Fe 63% grade pellets is heard around INR 6,800 - 6,900 (ex-Bellary). P-DRI prices in southern India have come down by INR 200/MT W-o-W.
2. Western India pellet maker Jindal SAW has kept offers unchanged this week at INR 6400/MT (delivered Kandla).
Indian Pellet Reference prices as on 17th Apr'18-:
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Barbil* | 63 | 5,200 |
| Durgapur | 63 | 5,500 - 5,600 |
| Jamshedpur | 63 | 4,800-5,200 |
| Jharsuguda | 63 | 5,800 |
| Raipur | 63 | 6,100-6,200 |
| Bellary | 63 | 6,800-6,900 |
| Kandla** | 63 | 6,400 |
*loaded to wagons
**delivered
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
