India: Shyam Metaliks & Energy to Commence Operations at New Pellet Plant in April
Odisha (Jharsuguda) based pellet maker - Shyam Metaliks & Energy is all set to commence operations at its new pellet plant in Jharsuguda with 0.6 MnT pa capacity.
The plant is expected to commence operations by end of April 2019. They were already running 0.6 MnT pa pellet unit in Jharsuguda and adding another unit will increase its capacity to a total capacity to 1.2 MnT pa.
As per sources, the pellets manufactured from the new unit will be totally dedicated to the merchant market.
SteelMint has also learned from the sources that they are currently using pellets for captive consumption since last few weeks and thus were not active in the merchant market.
However today the pellet maker is quoting offers at INR 5,700/MT (ex-plant, Jharsuguda) for Fe 64%.
India has a pellet capacity of around 84 MnT p.a. Eastern India accounts for a maximum number of pellet manufacturing units and holds the share of around 45% in total pellet capacity of India. Odisha stands highest among all eastern states with around 27 MnT pa capacity followed by Chhattisgarh around 9 MnT pa, Jharkhand around 8.4 MnT pa and West Bengal around 4 MnT pa.
With the commencement of operations at the new pellet, availability will increase in the merchant market.
source: SteelMint
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