Indian Pellet Makers Slash Offers Amid Decline in Sponge Prices

Durgapur (Eastern India) based pellet offers have come down this week by INR 400-500/MT amid slow down in sponge prices. Also, SteelMint learned from market sources that trade volumes have remained low at quoted offers.

Durgapur pellet offers have witnessed the decline and the current assessment is around INR 7,000/MT this week against last week's assessment of INR 7,500/MT. P-DRI prices have also decreased sharply by INR 1,600/MT to INR 19,100/MT against last week at INR 20,700/MT.

Major pellet makers in Barbil region were not heard quoting offers this week.

Central India pellet market awaits price revision - Raipur (Central India) based pellet makers are yet to open fresh offers however buyers expect downward correction. Last offers heard were at INR 8,000/MT however hardly deals were reported. Buyers keep eyeing for lower offers at around INR 7,500/MT. As per the sources, they may decline pellet offers amid limited trade volumes seen at last offers. P-DRI prices have also declined sharply by INR 1,100/MT to INR 20,500/MT against INR 21,600/MT.

Southern India Pellet offers stable amid the decline in sponge prices - Southern India (Bellary) pellet prices have offers decline marginally to INR 7,500-7,600/MT (basic) this week as against the last week's assessment at INR 7,500-7,700/MT. P-DRI price decline to INR 20,300/MT against last week assessment INR 20,900/MT.