IRON and STEEL
Durgapur pellet prices remain supported despite fall in sponge offers -: Eastern India pellet prices have remained supported on the back of hampered iron ore movement amid logistics constraints over cyclone Fani.
In Durgapur (Eastern India) reference pellet price assessment stands at INR 5,800-5,900/MT (delivered) in line with the last week assessment. No change has occurred for this week. Market participants are experiencing hampered iron ore movement owing to cyclone hit in Odisha recently.
P-DRI prices have decreased this week at Durgapur to INR 17,900/MT against last week assessment of INR 18,100/MT.
Most of the merchant pellet makers from Barbil are not offering in the domestic market. Barbil pellet offers assessed at INR 5,700-5,800/MT (loaded to wagons).
Central India pellet offers inch up -: Pellet offers for this week is at INR 6,400/MT against last week offers of at INR 6,300/MT. P-DRI price increased marginally to INR18,800/MT (basic) compared to INR 18,750/MT a week ago. Few Raipur based sponge manufacturers confirmed to have concluded deals at INR 6,300/MT (ex-Raipur).
Raigarh based pellet makers’ offer increased by INR 100/MT at INR 6,100-6,200/MT (ex-plant).
Southern India pellet offers unchanged W-o-W -: Southern India (Bellary) pellet offers for Fe 63% grade remains stable at INR 7,000-7,100/MT in line with last week’s assessment.
Bellary P-DRI price also seems to be stable at INR 18,800/MT in line with the last week's assessment.
Indian pellet trade updates-:
-- West India based pellet maker - Jindal SAW has kept offers unchanged this week at INR 8,300/MT delivered Kandla.
-- Jajpur based Brahmani River Pellets has kept the offers firm at INR 6,750/MT to Kalinganagar based units.
-- Southern India based Janki Corp is offering Fe 63% grade pellets at INR 7,000/MT (ex-plant) in Bellary.