Central India: Raipur Based Pellet Makers Cut Offers by INR 200/MT

SteelMint in conversation with market participants learned that Raipur (central India) based pellet manufacturers have decreased their offers by INR 200/MT. Current offers for Fe 63% grade stands at INR 6,200/MT (ex-Raipur, GST extra) as against last assessment at INR 6,400/MT. No firm trades were reported at last offers of INR 6,400/MT (ex-Raipur) as buyers were eyeing for further price cut.

Raipur based plants had increased their offers by INR 200/MT towards mid of last week to INR 6,400/MT (Ex-plant) after increase in P-DRI prices. However, towards the end of last week P-DRI prices moved down by INR 500-600/MT. Current P-DRI prices in Raipur fell to 16,000/MT against INR 16,100/MT towards end of last week.