SteelMint: PELLEX remains stable in recent trade

SteelMint's bi-weekly domestic pellet (Fe 63%) index, PELLEX, stood at INR 8,000/tonne (t) DAP Raipur, stable compared to the last assessment on 26 October, 2022 amid limited deals. Around 20,000-25,000 t of deals were reported in this publishing window. 

Rationale:

• PELLEX has been derived using data points: i.e. trades, offers and bids. You can download the detailed methodology by clicking on this link Click here.
  
  
• One deal was reported and considered in this publishing window hence accorded 50% weightage for T1 trade.
  
  
• Eight (08) firm offers, bids and indicative prices were reported. Six (06) were taken for price calculation and given the balance 50% weightage.
  
  
• SteelMint has received no bids in this publishing window.
  
  

Raipur-based pellets producers kept their offers (Fe 63%) at INR 7,700-7,900/t ($97-98/t) exw as against INR 8,000-8,100/t ($93-96/t) exw in the last assessment. Jharsuguda-based pellet producers resumed offers at INR 7,400-7,500/t exw today.

Buyers are still standing at INR 7,500-7,600/t exw as sponge and billets offers were fallen in the market. Therefore, bids and offers disparity prevails.

SteelMint's price assessment for sponge P-DRI (FeM 80%) in Raipur moved down to INR 31,400/t exw w-o-w, as against INR 31,800/t exw on 21 October. On a daily basis, sponge iron prices moved down by INR 300/t exw as against INR 31,700/t exw 27 October.

Region-wise pellet offers and deals: