Southern India Pellet Offers Hit 6-Month High Amid Hike in P-DRI Prices

Southern India (Bellary) based pellet makers have increased pellet offers by INR 300-400/MT starting this week. SteelMint’s assessment for pellets stands at INR 6,900-7,000/MT (Ex-Bellary) against last week's assessment at INR 6,600/MT. Pellet prices for Southern India have moved up by INR 700-800/MT M-o-M as against INR 6,200-6,300/MT (EXW) a month back. Bellary pellet prices are hovering at 6-months high as these levels were last seen in Jun'19.

As per the sources, Bellary based pellet maker has sold around 10,000 MT at INR 6,900/MT (EXW) recently. One of the pellet makers from Bellary is not offering pellets today as they have fewer stocks to offer.

P-DRI prices in Bellary also increased by INR 800-1,000/MT W-o-W to INR 18,800-19,000/MT this week against INR 18,000/MT (EXW) last week. In a month’s time, sponge prices have increased sharply by INR 2,100-2,300/MT (EXW) as against INR 16, 700/MT.

Jamshedpur pellet maker also increased offer by INR 100/MT-: Jamshedpur based pellet makers increased offer by INR 100/MT to INR 6,600/MT against last offer at INR 6,500/MT (EXW). Recently they have concluded a deal for 10,000 MT pellets at INR 6,500/MT(EXW).