Limited Deals Keep PELLEX Stable

PELLEX stable at INR 7,550/wmt (DAP Raipur). Pellet deals for around 12,000 MT reported to Raipur sponge makers at INR 7,400/MT(Ex plant); normalizing for freight to Raipur at INR 7,550/MT (DAP, Raipur).

SteelMint P-DRI Assessment (Jan 10, 2020) increased by INR 300/MT W-o-W to INR 20,400/MT as against INR 20,100/MT (Ex-Raipur) a week before. However, today P-DRI sponge offer down by INR 200/MT on a daily basis.

KIOCL has concluded two pellet export deals in this publishing window for Fe 64% and 2% Al at USD 111.46/MT, FoB and another deal for Fe 65% with less than 1% Al at around USD 113-114/MT, FoB India. However, SteelMint Pellet export assessment for the regular grade (Fe 64% and 3% Al) stands at USD 104-105/MT, FoB India.

Deals from Other Regions-:

-- One of the major pellet makers from Raigarh sold around 10,000 MT pellets yesterday at INR 7,000/MT (EXW). However, offers from Raigarh stand at INR 7,000-7,200/MT(EXW).

-- Jharsuguda based pellets maker sold around 3,000 MT pellets yesterday at INR 6,900/MT(EXW). However, now offering pellets at INR 7,000/MT(EXW).

-- Jamshedpur based pellets maker sold around 15,000 MT pellets in the last two-three days at INR 6,700-6,800/MT (EXW). However, now offering pellets at INR 6,800/MT(EXW).

-- Durgapur based major pellets maker sold around 8,000 MT pellets at INR 7,000/MT (EXW) in the last two-three days.

-- Bellary based pellet makers sold around 22,000MT pellets for Fe 63% grade at INR 7,300-7,400/MT recently (EXW).

Click here to see SteelMint Pricing Methodology and Rationale documents.

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