Central India: Raipur Based Pellet Makers Hike Offers by INR 300/MT

SteelMint in conversation with market participants learned that major Raipur (Central India) based pellet manufacturers have increased offers today by INR 300/MT.

Few Raipur based pellet makers are not aggressively offering amid pending dispatches.
Odisha's major merchant iron ore miners Essel mining hike iron ore lump offers on 15th Dec’19. Miners have increased prices for 5-18 mm (Fe 63%) by INR 300-350/MT (USD 4-5/MT) to INR 4,200/MT (ex-mines, including Royalty, DMF, & NMET) as against last offers at INR 3,900/MT (ex-mines, GST extra). Similarly, they also hike iron ore fines offer by INR 150/MT to INR 2,450/MT (ex-mines, GST extra).

The majority of sponge manufacturers are using iron ore lumps. Chhattisgarh based steel plants increased sourcing from NMDC (C.G.) by 16% to 22 rakes (equivalent to 84,700 MT) till 11th Dec against 19 rakes (73,150 MT) for the same timeframe in Nov’19.

P-DRI prices increased by INR 200-400/MT on 14th Dec to INR 16,700-16,900/MT on weekly basis as compared to INR 16,500/MT assessed a week before.