PELLEX Up by INR 100/MT
PELLEX moved up by INR 100/MT to INR 5,950/WMT (DAP Raipur) in a recent deal following hike in pellet offers. As per the market participants, a major Raipur based pellet maker sold around 10,000 MT pellets in the local Raipur market at INR 5,950-6,050/MT (DAP Raipur).
Last week Raipur pellet makers had sold around 80,000- 100,000 MT pellets in the local market Raipur market at INR 5,600-5,850/MT (DAP Raipur). Exorbitant domestic pellet sales and aggressive pellet export orders stimulated the Raipur pellet manufacturers to hike offers in the domestic market.
Pellets offer from Raipur and nearby location-:
-- Raipur based pellet offers increased by INR 200/MT to INR 5,900/MT( Ex-plant); normalizing for freight to Raipur at INR 6,050/MT (DAP Raipur).
-- Raigarh based pellet maker offers stable at INR 5,400-5,500 /MT(Ex-plant) this week. One of the major pellet makers continues to not offering pellets owing to a lack of material availability.
-- Jharsuguda based pellet maker kept the offers stable at INR 5,200/MT (Ex-plant).
Deals from other regions-:
-- Bellary based pellet makers have sold around 25,000 MT pellets in the local market at around INR 6,100-6,400/MT (Ex-plant) in the last three-four days.
-- Jharsuguda based pellet maker also sold around one rake of pellet to Raigarh at INR 5,200/MT (Ex-plant).
-- Rourkela (Odisha) based pellet maker sold around 3,000 MT pellets in Raigarh at INR 5,000/MT (Ex-plant) a few days back.
-- Jamshedpur based pellet makers sold around 5,000 MT pellets at INR 5,100 -5,200/MT (Ex-plant) in a recent deal.
No pellet export deal heard in this publishing window. However, SteelMint pellet export assessment for Fe 64% grade pellets with 3% Al at USD 107-108/MT, CFR China. Indian pellet export prices hit a 2-month high last week.
source: Steel Mint
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
