India: Raipur Based Pellet Makers Raised Offers by INR 200/MT After Decent Bookings

Raipur (central India) based pellet manufacturers have increased offers towards the end of last week (i.e 16th May) by INR 200/MT. Revised offers for Fe 63% grade stands at INR 5,900/MT (ex-Raipur, GST extra) as against last offers of INR 5,700/MT (ex-Raipur, GST extra).

As per the market participants, one of the major pellets makers has sold around 10,000 MT pellets in the local Raipur market at increased offers mentioned above.

According to deals reported by SteelMint, last week Raipur pellet makers had sold around 80,000- 100,000 MT pellets in the local market Raipur market at INR 5,600-5,850/MT (DAP Raipur). Exorbitant domestic pellet sales and aggressive pellet export orders stimulated the Raipur pellet manufacturers to hike offers in the domestic market. Indian pellet export prices hit 2-month high last week.

SteelMint P-DRI assessment (May 18, 2020) at INR 15,400/MT (Ex-plant) as against last week's assessment on 11th May at INR 15,300/MT(Ex-plant).