SteelMint: PELLEX increases by INR 350/t on active deals
SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, stood at INR 8,900/tonne (t), up by INR 350/t compared to the last assessment on 6 December, 2022...
SteelMint's bi-weekly domestic pellets (Fe 63%) index, PELLEX, stood at INR 8,900/tonne (t), up by INR 350/t compared to the last assessment on 6 December, 2022. Around 55,000 t of deals were reported in this current publishing window.
Rationale:
- PELLEX has been derived using data points, i.e. trades, offers and bids. 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. Five (5) were taken for price calculation and given the balance 50% weightage.
- SteelMint received only one bid at INR 8,550/t DAP Raipur which was not considered for index calculation in this publishing window.
Raipur-based pellets producers increased their offers up to INR 8,800-8,900/t ($107-108/t) exw from INR 8,400-8,500/t ($102-103/t) exw, recently. Meanwhile, Godawari Power and Ispat has increased domestic pellets (Fe63.5%, +/-0.5) offers by INR 400/t ($5/t) to INR 9,200/t exw ($112/t) from INR 8,800/t exw ($107/t) on 28 Nov.
Buyers are now showing interest in pellets and concluded some decent deals before the price hike. Around 5,000 t of pellets deals were concluded at the prevailing offer, post-hike.
SteelMint's price assessment for sponge P-DRI (FeM 80%) in Raipur moved up to INR 30,900/t w-o-w as against INR 29,800/t exw on 2 December. Sponge iron prices stood stable d-o-d as against 8 December.
Region-wise pellets offers and deals: