India: PELLEX Falls Marginally; Raipur Pellet Makers Slash Offer

PELLEX moved down marginally by INR 50/MT to INR 6,650/wmt (DAP Raipur). No pellet deal reported in this publishing window.

Raipur based pellet makers decreased offers by INR 200/MT to INR 6,500/MT (Ex-plant); normalizing for freight to Raipur at INR 6,650/MT (DAP Raipur).

-- Raigarh based pellet makers offer remain stable at INR 6,000-6,100/MT (Ex-plant).

-- Jharsuguda based pellet maker has declined pellet offer by INR 100/MT to INR 5,900/MT (Ex-plant).

-- SteelMint P-DRI Assessment (Mar 06, 2020) stable W-o-W to INR 18,350/MT (Ex-plant) against INR 18,400/MT last week.

-- An Odisha (eastern India) based pellet maker has concluded two pellet export deal for 50,000- 55,000 MT each of Fe 64% grade pellets with 3% Al. The deal was concluded at around USD 118/MT, CFR China for early April shipment.

Jindal SAW hikes pellet offers by INR 150/MT: Western India pellet maker- Jindal SAW has increased pellet offers by INR 150/MT to INR 8,650/MT as against INR 8500/MT (Delivered Kandla). Chinese spot iron ore fines (Fe 62%) index increased by USD 8/MT W-o-W to USD 92/MT, CFR China yesterday against USD 84/MT, CFR China a week before.

India pellet trade from other region-:

-- Bellary based major pellet makers sold around 10,000 MT pellets at INR 7,000/MT (Ex-plant) in the last couple of days.

-- Raigarh based major pellet maker sold around 10,000 MT pellets in the local market at INR 6,000/MT (Ex-plant) two-three days back.

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