Southern India Pellet Makers Raise Offers Amidst Logistic Constraints
Southern India (Bellary) pellet offers for Fe 63% grade increased by INR 200/MT this week. SteelMint’s assessment for Bellary origin pellets at INR 7,000/MT (basic) against last week’s assessment at INR 6,800-6,900/MT amid logistic constraints.
The iron ore movement is hampered from roadways as well as railways.
SteelMint learned from the market sources that DMG (Department of Mines and Geology, Govt of Karnataka) has been making changes in its software system. This is a permit system through which iron ore is getting transported from mines to respective plants. ILMS application is Integrating with Forest department, buyer, route, vehicle, and destination altogether at one platform for providing better service to the clients. Amid logistics issues, many steel mills are seen preferring using pellets.
Bellary P-DRI price increased by INR 600/MT to INR 19,000/MT against last week assessment INR 18,400/MT.
Raipur pellet prices stable; limited deals reported in domestic market
Raipur (Central India) based pellet makers hold offers at INR 6,100/MT. However, last week amidst NMDC price cut so announced, Raipur (Central India) based pellet manufacturers reduced offers from INR 6,300/MT to INR 6,100/MT (ex-Raipur, GST extra) for Fe 63% grade. Also, few deals have been reported at same price.
A Raigarh based pellet plant is learned to have concluded deal at INR 5,800/MT (ex-plant). MSP Steel & Power Ltd. is not offering amidst maintenance shut down.
Durgapur based pellet offers increased amidst rise in sponge prices
Durgapur pellet price assessment stands at INR 5,800-6,100/MT this week against last week’s assessment of INR 5,600-5,700/MT. P-DRI prices for Ex-Durgapur increased to INR 19,400/MT against INR 19,000/MT a week ago.
Indian pellet trade updates
--Jajpur based Brahmani River Pellets has kept the offers firm at INR 6,700/MT to Kalinganagar based units.
--Central India based pellet maker has recently concluded two export deals of 50,000 MT pellet each for April delivery. The deals were concluded at around USD 106/MT, FoB India.
source: SteelMint
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