India: Raipur Pellet Prices Hit 3-Month High
Pellet offers for this week increased sharply in the recently concluded deals. SteelMint’s assessment stands at INR 6,900-7,000/MT (ex-Raipur, GST extra) against last week’s assessment of INR 6,600/MT. Current prices are hovering at 3-month high.
As per the market participant, one of the pellet makers from Raipur concluded pellet deal at INR 6,800-6,900/MT today. Although the trade volumes reported were not significant as major buyer’s awaited clarity before making bookings.
Two major pellet makers in Raipur are not offering material presently owing to upcoming maintenance shutdown at one plant and export orders lined up.
P-DRI prices also increased significantly by INR 400-500/MT to INR18,800-18,900/MT (basic) compared to INR 18,400/MT a week ago.
Raigarh based pellet makers’ offer at INR 6,300-6,400 (ex-plant) with the deal reported at similar levels.
Durgapur pellet offers moved up sharply -: Eastern India pellet prices have increased significantly in Durgapur (Eastern India) by around INR 400-600/MT W-o-W. SteelMint’s reference pellet price assessment stands at INR 6,300-6,600/MT (delivered) against INR 5,900-6,000/MT last week. Prices have moved up amid supportive sentiments in the global market. Rashmi Metaliks is not offering pellets in the merchant market.
P-DRI prices have increased by INR 1,000/MT this week at Durgapur to INR 18,600/MT against last week assessment of INR 17,500/MT.
Most of the pellet makers from Barbil are not offering in the merchant market.
Southern India pellet offers increased marginally -: Southern India (Bellary) pellet offers for Fe 63% (+) grade increased slightly at INR 7,000-7,200/MT against last assessment at INR 7,000-7,100/MT.
Bellary P-DRI price increased to INR 18,600/MT against last week assessment at INR 18,400/MT.
Indian pellet trade updates-:
-- West India based pellet maker - Jindal SAW has kept offers unchanged this week at INR 8,450/MT delivered Kandla.
-- Jajpur based Brahmani River Pellets has hiked offers to INR 7,000/MT for Kalinganagar.
-- Southern India based Janki Corp. is offering Fe 63% grade pellets at INR 7,100/MT (ex-plant) in Bellary.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
