India: Jindal SAW Cuts Pellet Offer by INR 150/MT
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Western India based pellet maker - Jindal SAW has decreased offers by INR 150/MT to INR 7,900/MT (delivered Kandla) against INR 8,050/MT last week. In order to compete with competitive offers from other states like Odisha has resulted in western India pellets maker to lower offers.
Durgapur pellet makers raise offer:
In Durgapur SteelMint's reference, pellet price increased by INR 100/MT to INR 5,800-5,900/MT (ex-Durgapur, GST extra), against INR 5,700-5,900/MT last week. P-DRI prices in Durgapur are currently seen at INR 17,000-17,200/MT (Ex-plant) up by INR 100-200/MT against last week at INR 16,900-17,000/MT.
India Trade Log:
-- Raipur based sponge units are prefering iron ore over pellets. Chhattisgarh based steel plants increased sourcing from NMDC (C.G.) by 13% from 40 rakes (equivalent to 154,000 MT) in Oct'19 to 45 rakes (173,250 MT) in Nov'19.
--Bellary based pellet maker has sold 7,000 MT pellets at INR 6,150-6,200/MT(EXW) in the last couple of days
SteelMint pellet reference prices as on 03rd Dec'19
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Durgapur | 63 | 5,800-5,900 |
| Barbil* | 63 | 5,400-5,600 |
| Jamshedpur | 63 | 5,600 |
| Raigarh | 63 | 5,800 |
| Bellary | 63 | 6,200-6,300 |
| Jajpur | 63 | 6,250 |
| Kandla** | 63 | 7,900 |
**delivered
* Loaded to wagon
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
