India: Jindal SAW Hikes Pellet Offer by INR 150/MT
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Western India based pellet maker - Jindal SAW has raised offers by INR 150/MT to INR 8,050/MT (delivered Kandla) against INR 7,900/MT last week.
Chinese spot iron ore fines (Fe 62%) index hit two-month high to USD 90.45/MT, CFR China on 25th Nov 2019 The prices increased by almost USD 5/MT W-o-W as against USD 85/MT, CFR China last week.
Durgapur pellet makers raise offer: In Durgapur SteelMint's reference, pellet price increased by INR 200/MT to INR 5,700-5,900/MT (ex-Durgapur, GST extra), against INR 5,600-5,700/MT last week. Following hike in Odisha iron ore prices last week, pellet makers have raised offer.
P-DRI prices in Durgapur are currently seen at INR 16,900-17,000/MT (Ex-plant) up by INR 100-200/MT against last week at INR 16,800/MT.
India trade log-:
-- Bellary based major pellet maker concluded 10,000 MT pellet deal at INR 6,300-6,400/MT (Ex-plant) to Karnataka and Tamil Nadu steel makers.
-- In another deal from Bellary based pellet makers sold 5,000 MT pellets at INR 6,250/MT yesterday.
-- Pellet deals for around 2,000 MT reported from Raipur market at INR 6,300/MT (Ex-plant); normalizing for freight to Raipur at INR 6,450/MT (DAP Raipur).
SteelMint pellet reference prices as on 26th Nov'19
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Durgapur | 63 | 5,700-5,900 |
| Barbil* | 63 | 5,300-5,500 |
| Jamshedpur | 63 | 5,600 |
| Raigarh | 63 | No offers |
| Raipur | 63 | 6,300 |
| Bellary | 63 | 6,200-6,400 |
| Jajpur | 63 | 6,200 |
| Kandla** | 63 | 8,050 |
**delivered
* Loaded to wagon
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
