PELLEX Stable in Recent Trades

PELLEX (DAP Raipur), Fe 63.5% stable at INR 5,900/wmt in recent deals reported this week.

Raipur based pellet offers remain stable at INR 5,800/MT( Ex-plant); normalizing for freight to Raipur at INR 5,950/MT (DAP Raipur).In Raipur market total 20,000-25,000 MT deal reported for Pellets at INR 5,700- 5,800/MT(Ex-plant); normalizing for freight to Raipur at INR 5,850- 5,950/MT (DAP Raipur). Out of the total deals, some were also concluded to outside state-based units like Gujarat and Maharashtra (Chandrapur).

Two Pellet export deals were reported to China in this publishing window. Eastern India based steel Pellet makers concluded Fe 64% grade and, 3% Al at around USD 89-90/MT, FoB India equivalent to USD 102/MT CFR China.

Ex -Plant export realization for Raipur pellet maker down to INR 5,000/WMT. In Central India the export market is semi-liquid; therefore export realization factor has been ignored in the computation of PELLEX.

Chhattisgarh based steel plants increased sourcing from NMDC (CG) by 38% from 29 rakes (equivalent to 112,000 MT) in Sep'19 to 40 rakes (155,000 MT) Oct'19 (This does not include movement through road).

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