India: JSPL Raise Pellet Offers for Domestic Market
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Jindal Steel & Power (JSPL) - a major east India based pellet manufacturer and India’s largest pellet exporter has recently opened offers for domestic market for limited quantity. The current offers are assessed at INR 5,300/MT (loaded to wagons). The pellet maker had kept itself away from offering material in domestic market and was focussing on exports.
It is heard that the company is likely to float pellet export tender tomorrow, however it could not be confirmed from company officials.
In the beginning of last week JSPL closed the export tender of 50,000 MT of Indian pellet at USD 121.50/MT CFR China, for the Sept end or early Oct’17 delivery. This resulted in hike in spot pellet premium to around USD 41.5/DMT, CFR China.
According to sources, another Odisha (east India) based pellet manufacturer has recently concluded a pellet export deal at around USD 121-123/DMT, CFR China.
Spot pellet premium was assessed at USD 41.5/MT, CFR China which is likely to be revised in a couple of days.
Indian domestic pellet market overview - Week 38
Domestic pellet prices in major markets of India remained stable on weekly premises except in western India where Jindal SAW has raised pellet offers by INR 7,150/MT (delivered Kandla). Towards the end of last week it had raised offers to INR 7,000/MT.
Indian Pellet Reference Prices for Fe 63%
| City | Basic Prices in INR/MT |
| Barbil* | 5,000-5,300 |
| Jharsuguda | 5,500 |
| Jamshedpur | 4,800 |
| Durgapur | 5,200 |
| Raipur | 6,000 |
| Kandla** | 7,150 |
*loaded to wagons, ** delivered
Prices (GST extra) mentioned are for min 1000 MT qty booking on advance payment basis
Source: SteelMint Research
