India: Limited Trades Put Domestic Pellet Offers Under Pressure
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Central India pellet makers lower offer by INR 200/MT-: Pellet offers for this week declined by INR 200/MT to INR 7,000/MT against last week offers at INR 7,200/MT. Raipur pellet market remains standstill with no trades being reported.
P-DRI price declined by INR 300-600/MT to INR 18,100-18,300/MT (basic) compared to INR 18,600/MT a week ago.
Durgapur pellet offers inch down-: In Durgapur (eastern India) reference pellet price assessment stands at INR 7,000-7,100/MT (delivered) slightly down by INR 50-100/MT against last week.
P-DRI prices have increased W-o-W at Durgapur to INR 18,400-18,600/MT against last week assessment of INR 18,200-18,400/MT.
Jindal SAW lowered offers - West India (Rajasthan) based pellet maker - Jindal SAW has decreased pellet prices by INR 200/MT. Current offers for Fe 63% grade pellets have moved to INR 8,900/MT (delivered Kandla) against the previous offer of INR 9,100/MT at last week. Jindal SAW runs a 1.5 MnT pellet plant in Bhilwara (Rajasthan).
Spot iron ore prices decreased amid weak steel prices. Fe 62% fines price decreased to USD 98/MT yesterday against USD 108/MT, CFR China, last week.
Southern India pellets offer decreased marginally-: Southern India (Bellary) based pellet makers have decreased pellet offers marginally to INR 7,100-7,200/MT against last week assessment at INR 7,100-7,300/MT. P-DRI prices also decreased by INR 200/MT to INR 18,600/MT this week against INR 18,800/MT last week.
Indian pellet trade updates-:
-- Jajpur based Brahmani River Pellets has kept the offers firm at INR 7,000/MT to Kalinganagar based units.
-- Southern India based Janki Corp is offering Fe 63% grade pellets at INR 7,100/MT (ex-plant) in Bellary.
--Shyam Metaliks (Jharsuguda) concludes 3,000 MT pellet to Raigarh based plant at INR 6,800/MT (FoR Raigarh).
SteelMint pellet reference prices as on 4th Jun'19
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Barbil* | 63 | No offers (However assessment at 5,700-5,800) |
| Jharsuguda | 63 | 6500 |
| Durgapur | 63 | 7,000-7,100 |
| Jamshedpur | 63 | 6,400-6,500 |
| Raipur | 63 | 7,000 |
| Bellary | 63 | 7,100-7,200 |
| Kandla** | 63 | 8,900 |
**delivered
*loaded to wagons
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
