Indian Pellet Makers Await Iron Ore Price Revision
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Raipur pellet makers hold offers; await NMDC price revision:
Raipur (Central India) based pellet makers continue to hold offers at INR 6,300/MT from the last few weeks. However, no significant deals were heard to have concluded at this price amidst competitive offers from Raigarh based pellet plants.
Raigarh based pellet plant heard to offering pellet at around INR 5,500-5,700/MT (ex-plant). Raigarh pellet offers landed to Raipur would stand around INR 6,100/MT (FoR).
Major pellet makers from Raipur are waiting for the NMDC price release for this month before releasing fresh offers.
P-DRI prices for Raipur up marginally at INR 18,650/MT as against last week's assessment at INR 18,600/MT.
Limited deals reported in Durgapur -: Durgapur pellet prices have witnessed decline further by INR 100/MT to INR 5,600-5,700/MT this week against last week's assessment of INR 5,700/MT. On similar lines, offers from major pellet makers of Barbil, also reduced offer to INR 5,100-5,200/MT (loaded to wagon).
A Durgapur based sponge manufacturer quoted that buyers are cautious at the moment and only booking for urgent needs.
P-DRI prices for Ex-Durgapur stands this week at INR 18,900-19,100/MT.
Southern India pellet offers unmoved-: Southern India (Bellary) pellet offers for Fe 63% grade almost stable to INR 6,800-7,000/MT(basic) this week against last week's assessment at INR 6,800-6,900/MT. P-DRI price decreased by INR 300/MT to INR 18,400/MT against last week assessment INR 18,700/MT.
Indian pellet trade updates-:
--West India based pellet maker - Jindal SAW has slightly lowered price by INR 50/MT this week. Latest price assessed at INR 8,800/MT delivered Kandla.
--Jajpur based Brahmani River Pellets has kept the offers firm at INR 6,700/MT to Kalinganagar based units.
-- Bellary based pellet maker Janki Corp Ltd. offering pellet at around INR 6,800/MT (basic).
Indian Pellet Reference prices as on 02nd April'19
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Barbil* | 63 | 5,100-5,200 |
| Durgapur | 63 | 5,600-5,700 |
| Jharsuguda | 63 | No offers |
| Jamshedpur | 63 | 5,600-5,700 |
| Raipur | 63 | 6,300 |
| Bellary | 63 | 6800-7,000 |
| Kandla** | 63 | 8,800 |
**delivered
*loaded to wagons
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
