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India: Godawari Power & Ispat Raises Pellet Offers by INR 300/MT

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Pellets

BigMint Bureau

1044 Reads

5 Jan 2018, 10:41 IST

India: Godawari Power & Ispat Raises Pellet Offers by INR 300/MT

Godawari Power & Ispat Limited - largest pellet manufacturer in Central India has hiked offers by Rs 300/MT (USD 5) yesterday, SteelMint learned from market sources.

The company has an installed pelletization capacity of 1.8 MnT p.a. and currently operating at 100% rated capacity.

The pellet maker is currently offering Fe 64/63% grade pellets at INR 7,500/MT (basic). Last offers from the company were assessed around INR 7,200/MT. The last deals concluded were at previous offers of INR 7,200/MT and at new offers, no deals were reported.

Few other major pellet makers in Central India are not offering material owing to maintenance shutdown in the plant. It may be interesting to see whether increased offers will be accepted by central India based sponge manufacturers or not. Sponge pellet (P-DRI) offers dropped to INR 21,300-400/MT,ex-Raipur on low trade volumes.

Durgapur pellet offers also move up -

A major Durgapur based pellet manufacturer has hiked by INR 300/MT today. Earlier they were offering at INR 7000/MT and now they have hiked offers to INR 7300/MT.

Eastern and central India based pellet offers have gained momentum after a hike in iron ore prices. NMDC has raised fines prices by INR 500/MT for January. Odisha based merchant iron ore miner's increased fines prices by INR 300/MT w.e.f 02 Jan'18.