SteelMint: PELLEX increases by INR 100/t

• A couple of Raipur based pellet makers have kept their offers on hold after recently concluded export bookings
  
  
• Pellet offers from Jharsuguda & Raigarh have moved up by INR 500-700/t against offers floated early this week
  
  

SteelMint's bi-weekly domestic pellet index "PELLEX " has increased by INR 100/t to INR 11,700/t, DAP Raipur in recent trades. One pellet deal was recorded by SteelMint in this publishing window having a total quantity of 5,000 t concluded by an Odisha based pellet maker for Raipur.

A couple of Raipur based pellet makers have kept their offers on hold after recently concluded export bookings. The remaining pellet makers have continued to keep offers largely stable.

Jharsuguda based pellet makers have increased offer significantly by INR 700/t today to INR 11,400/t exw. Raigarh based pellet concluded one deal for around 10,000 t pellet at INR 11,000/t exw day before yesterday. However, today it has increased its offer to INR 11,500/t exw.

With few Raipur based pellet makers not actively offering in the market, pellet deals have increased from nearby markets to Raipur city which has led to rise in pellet offers for the week.

Pellet sponge (P-DRI) prices in Raipur have increased sharply on a weekly basis to INR 26,800/t as against INR 25,900/t exw assessed last week. On a daily basis prices have increased by around INR 700/t.

Rationale - PELLEX has been derived using data points: i.e., trades, offers and bid. You can download the detailed methodology by clicking on this link Click here

• One deal has been concluded in the Raipur domestic market for 5,000 t (Fe 63%) at INR 11,450/t (DAP,Raipur) and given a weightage of 66.7%.
  
  
• The offers were given a total of 33.3% weightage in the price calculation.
  
  
• No firm bid was reported in this publishing window therefore not considered for price calculation and given 0% weightage in the index.
  
  

Region-wise pellet deals and offers: