SteelMint: PELLEX increases by INR 150/t in recent deals

SteelMint's bi-weekly domestic pellets (Fe 63%) index, PELLEX, stood at INR 8,550/tonne (t), up by INR 150/t compared to the last assessment on 2 December, 2022. Around 18,800 t of deals were reported but only one was considered, at around 8,000 t, in this current publishing window.

Rationale:

• PELLEX has been derived using data points, i.e. trades, offers and bids. You can download the detailed methodology by clicking on this link Click here.
  
  
• Two deals were reported but only one was taken into consideration in this publishing window and accorded 50% weightage for T1 trade.
  
  
• Eight (8) firm offers, bids and indicative prices were reported. Six (6) were taken for price calculation and given the balance 50% weightage.
  
  
• SteelMint received only one bid at INR 8,200/t DAP Raipur and was considered for index calculation in this publishing window.
  
  

Raipur-based pellets producers kept their offers at INR 8,400-8,500/t ($102-103/t) exw. Meanwhile, Godawari Power and Ispat's offers for domestic pellets (Fe63.5%, +/-0.5) stood at INR 8,800/t exw ($108/t).

Limited trades were reported in this week. However, buyers are still away and reluctant to conclude any bulk deal. Improved sponge prices may bring some interest for the buyer in the upcoming days.

SteelMint's price assessment for sponge P-DRI (FeM 80%) in Raipur moved up to INR 30,100/t w-o-w as against INR 28,700/t exw on 29 November. Sponge iron prices increased by INR 300/t d-o-d as against INR 29,800/t exw on 5 December.

Region-wise pellets offers and deals: