India: Pellet prices in Bellary fall by INR 150/t ($2/t) amid sluggish market sentiments

Pellet (Fe63%) prices in Bellary decreased by INR 150/t ($2/t) to INR 10,400/t ($124/t) exw on 25 Oct'24 compared to 22 Oct. Deals of 11,000 t were concluded at INR 10,200-10,400/t ($121-124/t). Declining trades and weak sponge iron and finished steel prices have pressured pellet offers. Additionally, sponge PDRI prices decreased by INR 650/t ($8/t) w-o-w to INR 26,350/t exw ($313/t).