India: Raipur Based Pellet Makers Raise Offer

Amid recently concluded pellet export deals along with decent bookings made in the domestic market, Raipur based pellet makers have raised offers today.

SteelMint in conversation with market participants learned that Raipur based pellet makers raised its offer by INR 100/MT to INR 6,200/MT (ex-Raipur, GST extra) against last assessment made earlier this week at INR 6,100/MT at the beginning of this week.

Earlier this week, Godawari Power & Ispat concluded two export deals of 50,000 MT each for April loading. The deals concluded were around USD 106/MT, FoB India

Also, trade participants reported booking of around 50,000 MT pellets by three major Raipur pellet makers in last floated offer of INR 6,100/MT (Ex-Raipur).

So amid recently concluded export deals and decent bookings last floated offers, central India pellet makers raised offers.

-- Bellary based pellet manufacturers continue to maintain offers on the high side following logistical constraints in iron ore movement. Fe 63% grade pellet offers are learned at around INR 7,200-7,400/MT.

-- Durgapur pellet offers are assessed at around INR 5,900-6,000/MT (GST extra).