IRON and STEEL
SteelMint in conversation with market participants learned that Raipur (central India) based pellet manufacturers have increased their offers today by INR 200/MT. Current offers for Fe 63% grade to INR 7,000/MT (ex-Raipur, GST extra) as against last assessment at INR 6,800/MT.
According to market sources report to SteelMint, very limited deals of around 3,000-5,000 MT pellets were reported last week in Raipur at INR 6,800/MT (ex-Raipur).
Last week SteelMint reported, Raipur based pellet makers book 75,000 MT to exports for August delivery. Although prices were not discovered at the time of publishing but SteelMint's price assessment for standard grade pellets stands at around USD 120-122/MT FOB India east coast. This is equivalent to INR 8,200-8,300/MT FoB basis.
P-DRI prices increased by INR 600-800/MT W-o-W to INR 16,500-16,700/MT (basic) compared to INR 15,900/MT (Ex-Raipur) last week.