India: Limited Trades Put Domestic Pellet Offers Under Pressure
Central India pellet makers lower offer by INR 200/MT-: Pellet offers for this week declined by INR 200/MT to INR 7,000/MT against last week offers at INR 7,200/MT. Raipur pellet market remains standstill with no trades being reported.
P-DRI price increased declined by INR 300-600/MT to INR18,100-18,300/MT (basic) compared to INR 18,600/MT a week ago.
Durgapur pellet offers inch down-: In Durgapur (eastern India) reference pellet price assessment stands at INR 7,000-7,100/MT (delivered) stable slightly down by INR 50-100/MT against last week.
P-DRI prices have increased W-o-W at Durgapur to INR 18,400-18,600/MT against last week assessment of INR 18,200-18,400/MT.
Jindal SAW lowered offers - West India (Rajasthan) based pellet maker - Jindal SAW has decreased pellet prices by INR 200/MT. Current offers for Fe 63% grade pellets have moved up to INR 8,900/MT (delivered Kandla) against the previous offer of INR 9,100/MT at last week. Jindal SAW runs a 1.5 MnT pellet plant in Bhilwara (Rajasthan).
Spot iron ore prices decreased amid weak steel prices. Fe 62% fines price decreased to USD 98/MT, CFR China yesterday against USD 108/MT, CFR, China last week.
Southern India pellets offer decreased marginally-: Southern India (Bellary) based pellet makers have decreased pellet offers marginally to 7,100-7,200/MT against last week assessment at INR 7100-7,300/MT. P-DRI price also decreased by INR 200/MT to INR18,600/MT this week against INR18,800/MT last week.
Indian pellet trade updates-:
-- Jajpur based Brahmani River Pellets has kept the offers firm at INR 7,000/MT to Kalinganagar based units.
-- Southern India based Janki Corp is offering Fe 63% grade pellets at INR 7,100/MT (ex-plant) in Bellary.
--Shyam Metaliks (Jharsuguda) concludes 3,000 MT pellet to Raigarh based plant at INR 6,800/MT (FoR Raigarh).
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
