According to Mining News Pro -Central India pellet offers still under pressure amid competitive offers from eastern India-
According to market sources, Central India (Raipur) pellet offers have decreased further from the end of last week. Current assessment for Fe 63% pellets is at INR 8,500-8,700/MT (basic, Raipur) against INR 8,800-8,900/MT (basic) at the end of last week. In a week time pellets price have come down by INR 500-600/MT. Buying interest is still weak.
As per reports, an Odisha (Jharsuguda) based pellet maker has sold 5,000MT Pellets towards the end of last week at around INR 8,450/MT landed to Raipur which has kept Raipur pellet offers under pressure.
P-DRI prices in Raipur have also declined sharply by INR 1,400/MT to INR 22,300-22,400/MT against last week assessment at INR 23,800/MT.
Eastern India pellet prices decline further following a decline in semi-finished prices-:
Durgapur pellet price assessment has also come down by INR 200-300/MT to INR 7,900-8,000/MT (delivered) against the last assessment week at INR 8,200/MT. Rashmi Metaliks is still not offering pellets in the domestic market.
P-DRI prices in Durgapur have decreased sharply by INR 800- 1,000/MT to INR 20,400-20,600/MT against last week’s assessment at INR 21,500/MT (delivered).
Indian pellet export market has also remained silent amid ongoing Chinese holidays.
Southern India pellet makers decreased prices marginally:
Southern India (Bellary) based pellet makers have decreased prices by INR 100/MT to INR 8,000-8,200/MT (basic) against last week assessment INR 8,100-8,300/MT.
P-DRI prices have also decreased by INR 1,300/MT to INR 22,100/MT against last week assessment at INR 23,400/MT.
Trade-wise Updates-:
1. Western India pellets maker Jindal SAW is not offering pellets as they are booked for October and have exports lined up too. Last offers heard were at INR 9,400/MT (delivered Kandla).
Indian Pellet Reference prices as on 03rd Oct’18
| Regions | Grade | Base Prices INR/MT |
| Durgapur | 63 | 7,900-8,000 |
| Barbil* | 63 | 8,000 |
| Jharsuguda | 63 | 8,000 |
| Raipur | 63 | 8,500-8,700 |
| Bellary | 63 | 8,000-8,200 |
*loaded to wagons
Prices (GST extra) mentioned for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
