Domestic Pellet Market Up in Central India by INR 200
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Central Indian, Raipur based pellet makers have increased the offers to INR 6,000/MT over the iron ore price hike by NMDC in the state. However no deals have been reported yet with these prices.
India’s largest iron ore producer - National Mineral Development Corporation (NMDC) has announced price hike up to 9% for Sept’17 deliveries. Baila lump and fines prices have moved up by INR 175/MT, DR CLO by INR 240/MT and ROM by INR 185/MT.
However in rest of the Indian domestic market pellet offers have been heard to be stable for the past week. The prices have been stable due to low inquiries and smaller deals.
In East India Durgapur based pellet maker have reported no major change in prices over last week but expressed the positive sentiments that the market may pick up as the monsoon seems to be subsided. The current offers are at INR 5,200/MT same as a week ago, whereas another manufacturer have reported a small deal under the same price.
South India pellet market has seen a slight correction given the festive season. However one deal of 10, 000 MT is reported by one of the manufacturers at INR 6800/MT.
Indian Pellet Reference Prices as on 05th Sep’17
| City | Grade (Fe %) | Basic Prices in INR/MT |
| Jamshedpur | 63 | 4,800 |
| Durgapur | 63 | 5,200 |
| Raipur | 63 | 6,000 |
| Bellary | 63 | 6,500-6,800 |
| Barbil* | 63 | 4,850 |
| Jharsuguda | 63 | 5,300 |
Prices (GST extra) mentioned are for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
*Loaded to Wagons.
