Date: 22 March 2019 , 16:05
News ID: 4119

India: Domestic Pellet Trades Weaken Ahead Festive Holidays

Indian pellet offers have decreased further this week amid decline in sponge prices, lowered pellet buying interest at current offers.
India: Domestic Pellet Trades Weaken Ahead Festive Holidays

Raipur pellet offers under pressure amid competitive offers from Raigarh

Central India (Raipur) based pellet makers reduced offers last week by INR 400/MT (Ex-Raipur) to INR 6,300/MT. However, no significant deals were heard to have concluded at this price amidst competitive offers from Raigarh based plants at INR 5,500/MT (ex-plant).

Raigarh pellet offers landed to Raipur will come around INR 6,200/MT, which are learned to remain on lower side. This is expected to put Raipur pellet offers under pressure. As per SteelMint sources, a Raigarh based pellet plant recently concluded 20,000-30,000 MT pellet deal in domestic market at INR 5,500/MT (ex-plant, Raigarh).

P-DRI prices for Raipur decline by INR 500/MT to INR 18,300/MT against last week’s assessment at INR 18,800/MT.

Durgapur pellet prices down sharply W-o-W

SteelMint’s current pellet assessment for Durgapur is around INR 5600-5800/MT as compared to INR 6,000-6,200/MT last week. P-DRI prices for Durgapur witnessed at INR 18,000/MT this week.

Southern India pellet offers decline

Southern India (Bellary) pellet offers for Fe 63% grade decline to INR 6,900-7,000/MT, down against INR 7,000-7,200/MT (basic) assessment made towards beginning last week. P-DRI price decreased sharply by INR 600/MT to INR 18,400/MT against last week assessment at INR 18,700/MT.

Indian pellet trade updates:

--West India based pellet maker - Jindal SAW has kept offers firm at INR 8,850/MT delivered Kandla.

--Jajpur based Brahmani River Pellets is offering pellets at INR 7,100/MT to Kalinganagar based units.

-- Bellary based pellet maker Janki Corp Ltd. is offering pellet at around INR 7,000/MT (basic).

source: SteelMint