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JSPL and NMDC key gainers from higher domestic steel pellet prices

Disruptions in supply likely to help sustain prices in the near future

JSPL

Domestic steel pellet prices recently hit their multi-year highs on strong demand from China and supply-related constraints. The continued shutdown at Brazilian pelletiser Samarco’s mines and force majeure by Swedish player LKAB is disrupting third-party supplies of 55-60 million tonnes per annum (MTPA), supporting steel pellet prices, say analysts.  While data from Equirus Capital indicates that Indian pellet exports have touched $137 per tonne — an increase of 38 per cent over the June quarter — Edelweiss Securities has indicated that gains have been more ...