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PELLEX Up by INR 150 in Recent Deals of Around 100,000 MT

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Pellets

BigMint Bureau

769 Reads

15 May 2020, 19:36 IST

PELLEX Up by INR 150 in Recent Deals of Around 100,000 MT

PELLEX has increased by INR 150/MT to INR 5,850/wmt (DAP Raipur) in this publishing window.

As per the market participants report to SteelMint, pellet makers have sold around 80,000- 100,000 MT pellets in the local market Raipur market at INR 5,600-5,850/MT DAP Raipur.

There are also market indications for hike in domestic pellet offers in the near short term. After recent deals and hike in pellet export prices, pellet makers may plan to raise offers, shared sources. Notably Indian pellet export offers are trading at 2-month high on active Chinese buying.

Pellets offer from Raipur and nearby location-:

-- Raipur based pellet offers at INR 5,700/MT( Ex-plant); normalizing for freight to Raipur at INR 5,850/MT (DAP Raipur).

-- Raigarh based pellet maker offers stable at INR 5,400-5,500 (Ex-plant) this week. One of the major pellet makers continues to not offering pellets owing to a lack of material availability.

-- Jharsuguda based pellet maker kept the offers stable at INR 5,200/MT (Ex-plant).

Pellet deals from other regions-:

-- Raigarh based pellet concluded around 10,000 MT pellet deal in the local Raigarh market at INR 5,400-5,500/MT in the last two-three days.

-- Rourkela (Odisha) based pellet maker sold around 15,000 MT pellets in Raigarh at INR 5,000/MT (Loaded to the wagon).

-- Jamshedpur based pellet makers sold around 15,000 MT pellets at INR 5,100/MT (Ex-plant) in a recent deal.

Export deals in the two-three days-:

-- An Eastern India (Odisha) based pellet maker has concluded a pellet export deal recently for 50,000 MT Fe 64% grade pellets with 3% Al. The deal heard to be concluded at around USD 108/MT, CFR China for Jun Shipment.

-- West Bengal based pellet maker has concluded an export deal for 50,000 MT pellets consisting of Fe 64% grade pellets at USD 108-109/MT, CFR China for June dispatches.

-- Another Odisha (eastern India) based major pellet maker had concluded an export deal for Fe 64% and 2.8 Al content yesterday (i.e 13th May). The deal has been concluded at around USD 108/MT CFR China, for the end of May'20 shipment.

-- Jindal SAW- western India pellet maker booked a 50,000 MT pellet (Fe 63%) export deal yesterday to Malaysia at around USD 107/MT, CFR.

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