India Domestic Pellet Trade Log - Week 13, 2019
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Raipur pellet offers continue to remain under pressure amid competitive offers from Raigarh and Bilaspur
Raipur based sponge makers book pellet from Raigarh & Bilaspur based plants-:
Raipur (Central India) based pellet makers keep offers firm to INR 6,300/MT. However, no significant deals were heard to have concluded at this price amidst competitive offers from Raigarh and Bilaspur based pellet plants.
Raigarh based pellet plant was heard to have booked decent quantity of pellets at INR 5,500/MT (ex-plant, Raigarh) yesterday after which it increased offers to INR 5,750/MT.
A Raipur based integrated steel plant has bought pellet from Raigarh yesterday at around INR 6,000-6,100/MT FoR Raipur. In another deal concluded from Bilaspur based pellet maker to Raipur at INR 5.900/MT, FoR Raipur basis. Competitive pellet offers from Raigarh and Bilaspur, have kept Raipur pellet offers under pressure.
P-DRI prices for Raipur at INR 18,600/MT as against last week's assessment at INR 18,400/MT.
Durgapur pellet offers increased following yesterday's hike in sponge prices -: SteelMint's current pellet assessment for Durgapur is around INR 5,800-5,900/MT this week up by INR 100-200/MT against last week's assessment at INR 5,600-5,800/MT. P-DRI prices for Durgapur increased sharply by INR 700/MT W-o-W to INR 18,800/MT as against INR 18,100/MT.
Southern India pellet offers decline marginally -: Southern India (Bellary) pellet offers for Fe 63% grade decline to INR 6,900/MT (basic) this week against last week's assessment at INR 7,000-7,100/MT. P-DRI price increased by INR 300/MT to INR 18,700/MT against last week assessment INR 18,400/MT.
Indian pellet trade updates-:
--West India based pellet maker - Jindal SAW has kept offers firm further this week at INR 8,850/MT delivered Kandla.
--Jajpur based Brahmani River Pellets is offering pellets at INR 6,700/MT to Kalinganagar based units.
-- Bellary based pellet maker Janki Corp Ltd. is offering pellet at around INR 6,900/MT (basic).
Indian Pellet Reference prices as on 26th Mar'19
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Barbil* | 63 | 5,200-5,400 |
| Durgapur | 63 | 5,800-5,900 |
| Jharsuguda | 63 | No offers |
| Jamshedpur | 63 | 5,700-5,800 |
| Raipur | 63 | 6,300 |
| Bellary | 63 | 6,900 |
| Kandla** | 63 | 8,850 |
**delivered
*loaded to wagons
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
