SteelMint: PELLEX falls marginally by INR 100/t in recent trade
SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, stood at INR 10,250/tonne (t) DAP Raipur, down marginally by INR 100/t compared to the last asses...
SteelMint's bi-weekly domestic pellets (Fe 63%) index, PELLEX, stood at INR 10,250/tonne (t) DAP Raipur, down marginally by INR 100/t compared to the last assessment on 17 January, 2023. Around 35,000 t of deals were reported in this current publishing window.
Rationale:
- PELLEX has been derived using data points, i.e. trades, offers and bids. To download the detailed methodology, Click here.
- Three deals (03) were reported and two were taken into consideration in this publishing window and accorded 50% weightage for T1 trade.
- Eight (08) firm offers, bids and indicative prices were reported. Four (04) were taken for price calculation and given the balance 50% weightage.
- SteelMint received one bid at INR 9,800/t DAP Raipur which was not considered for index calculation in this publishing window.
Raipur-based pellet producers offered at INR 10,100-10,200/t ($124-$126/t) exw. Godawari Power and Ispat's offers for domestic pellets (Fe 6.5%, +/-0.5) stood at INR 10,500/t exw ($129/t) as against INR 10,100/t exw ($124/t) previously.
The disparity between bids and offers has widened in the market. However, few market participants were waiting for clarity and adopted a wait-and-see mode today.
SteelMint's price assessment for sponge P-DRI (FeM 80%) in Raipur increased by INR 100/t w-o-w to INR 32,450/t. On a daily basis, sponge iron prices increased by INR 150/t.
Region-wise offers and deals: