Thin Buying Interest Keeps PELLEX Unchanged

PELLEX remains stable at INR 6,650/wmt (DAP Raipur). No deals were reported in this publishing window at the increased offer by Raipur pellet makers. Raipur based pellet offers stable at INR 7,000/MT( Ex-plant); normalizing for freight to Raipur at INR 7,150/MT (DAP Raipur).

Raigarh based pellet makers also kept the offers stable at INR 6,500/MT (EXW). Pellet offers from Jharsuguda stands at INR 6,600/MT (EXW).

SteelMint P-DRI Assessment (Dec 27, 2019) increased sharply by INR 1,000/MT W-o-W to INR 19,000/MT as against INR 18,000/MT (Ex-Raipur) last week. On daily basis P-DRI offers down by INR 200/MT as against yesterday.

No Pellet export deal was heard in this publishing window. However, SteelMint Pellet export assessment for the regular grade (Fe 64% and 3% Al) stands at USD 101-102MT, FoB India. Few pellet offers are heard at USD 115/MT, CFR China, however, amid year-end holidays market remains silent.

India Pellet Trades-:

-- Raigarh based pellet maker has sold around 5,000 MT pellet deals at INR 6,500/MT (EXW) a couple of days back.

-- Bellary based pellet makers have sold around 10,000MT pellets at the range of INR 6,700-6800/MT (EXW) yesterday. Mostly pellet makers from Bellary were not offering in the market, as they were watching market closely.

-- As per the sources Durgapur based pellet maker has concluded around 2000 MT pellet deal yesterday at INR 6,500/MT (EXW). However, Current offers for Durgapur increased by INR 200/MT to INR 6,600-6,800/MT (EXW).

-- West India based pellet maker- Jindal SAW has increased pellet offers by INR 200/MT to INR 8,350/MT against last offer at INR 8,150/MT (delivered Kandla).