PELLEX Stable at INR 6,200/WMT (DAP Raipur)

PELLEX stable at INR 6,200/wmt (DAP Raipur) amid limited deals.

Pellet deals for around 2,000 MT reported from Raipur market at INR 6,300/MT(Ex-plant); normalizing for freight to Raipur at INR 6,450/MT (DAP Raipur). As this deal was not under SteelMint methodology therefore ignored in the computation of PELLEX. As per the sources, increased pellet offers force sponge makers to shift in iron ore lumps for cost-effectiveness.

No pellet deals were reported in this publishing window. SteelMint Pellet export assessment stands at USD 97-98/MT, FoB India. The pellet export market is further expected to remain supported due to stringent environmental controls and falling port inventories.

Chattisgarh based steel plants increased sourcing from NMDC (CG) by 19% from 32 rakes (equivalent to 123,200 MT) in the last month the same timeframe to 38 rakes (146,300 MT) till 26th Nov'19 (This does not include movement through road and slurry pipeline).

Click here to see SteelMint Pricing Methodology and Rationale documents.

To provide feedback/suggestions, please contact info@steelmint.com