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India: Domestic Pellet Offers Weaken Amid Lower Bids

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Pellets
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30 Oct 2018, 17:45 IST
India: Domestic Pellet Offers Weaken Amid Lower Bids

Central India pellet prices have hit 2-month low as current Raipur pellet offers were last seen in end Aug'18.

Central India: Trade volumes remain thin amid disparity between bids and offers

According to market sources, Central India (Raipur) pellet offers have decreased sharply from the last week assessment. Current reference pellet assessment for Raipur is around INR 7,900-8,100/MT (basic) against at INR 8,200-8,400/MT last week. However, buying interest is lower by INR 200-300/MT than current offers. Buyers are in the wait and watch mode and are expecting offers to come down further amid dull trades ahead Diwali festive holidays.

P-DRI prices in Raipur have also declined sharply by INR 400/MT to INR 21,300/MT against last week assessment at INR 21,700/MT.

Durgapur Pellet Prices slide following decline in semi-finished prices-:

Durgapur pellet price assessment has decreased by INR 300-400/MT to INR 7,600-7,800/MT (delivered) against INR 8,000-8,100/MT last week's assessment. Semi-finished steel prices have come down by INR 100-300/MT in a week's time.

Around four pellet export deals were reported last week. For 3% Alumina pellets, export price is around USD 137/MT, CFR China, for which realization would come around INR 8,000/MT in Barbil. However, for Durgapur pellet makers, realizations are lower than this amid high port charges.

No offers for the domestic market were heard from JSPL. However, another pellet maker was heard to offer around INR 7,500/MT (loaded to wagons).

Southern India pellet makers decreased prices marginally:

Southern India (Bellary) based pellet makers have decreased prices by INR 100/MT to INR 7,200-7,400/MT (basic) against last week assessment INR 7,200-7,500/MT.

P-DRI prices decreased sharply by INR 700/MT to INR 20,700/MT against last week assessment at INR 21,400/MT.

Indian Pellet Reference prices as on 30th Oct'18

Regions Grade (Fe %) Base Prices INR/MT
Durgapur 63 7,600-7,800
Barbil* 63 7,500-7,700
Jamshedpur 63 7,500-7,700
Raipur 63 7,900-8,100
Bellary 63 7,200-7,400
Kandla 63 No offers heard as Jindal SAW is not offering on low stocks and export bookings.

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

30 Oct 2018, 17:45 IST

 

 

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