According to the market participants report to SteelMint, one of central India (Raipur) based pellet manufacturers have concluded a bulk deal of 50,000 MT pellets of Fe 63.5% The deal was heard to have concluded by around 7 parties in Raipur at an average price of around INR 6,200/MT (ex-Raipur, GST extra) and immediate delivery.
SteelMint assessment for Pellet prices for Ex-Raipur is at INR 6,400-6,500/MT for 1,000 MT quantity against last assessment INR 6,500-6,600/MT made earlier this week. Central India (Raipur) pellet offers have decreased further and hit almost 4-month low. Few of the major pellet makers have kept offers on hold and watching the market more closely.
Pellet prices of Central India have come down sharply by around INR 1,500/MT in month’s time
P-DRI prices have come down W-o-W to INR 20,000-20,100/MT as against INR 20,950/MT last week.
Few pellet deals reported in Durgapur at lowered prices - Durgapur pellet price declined to INR 7,000/MT as against last week assessment to INR 7,100-7,300/MT.
Similarly, P-DRI prices have declined significantly to INR 20,200-20,400/MT against last week assessment at INR 21,700/MT.
Indian pellet export market quietens on an absence of Chinese bids. SteelMint’s assessment for Indian pellet export has come down by USD 5/MT W-o-W.
Odisha's based largest merchant miners have reduced iron ore prices in a week’s time, therefore, it is expected pellet prices may further move down in coming days.