FACTORS EFFECTING SPONGE IRON PRICES
1. Significant Increase Iron Ore / Pellet Prices – .
In Raipur pellet offers have increased further significantly and hit 6 years high. Current Pellet rate is at INR 10000MT (basic, GST extra) in a month’s time prices have climbed by INR 3,500/MT. almost 50% increase in pellet cost
Factors Affecting Pellet Prices -
1. Limited offers in merchant market: Central India based major pellet makers like Godawari Power & Ispat are still not offering owing to decent export bookings made, led to the material shortage in the merchant market. Other pellet makers are offering limited quantities in the merchant market.
Eastern India based major pellet makers like JSPL, Arya Iron & Steel, BRPL are also not offering in merchant market on limited material availability.
2. Price hike by Odisha based merchant miners: Odisha based merchant miners had increased prices by INR 1100-1200 /MT. This has made Odisha iron ore prices to hover close to 6 years high.
3. NMDC (C.G) iron ore price hikes: National Mineral Development Corporation (NMDC)...