India: Pellet prices in Raipur drop by INR 500/t ($6/t) amid weak market liquidity

Raipur-based pellet makers reduced Fe63% (+/_0.5%) offers on 18 Nov'24 by INR 500/t ($6/t) to INR 9,400-9,500/t ($111-112/t) exw amid weak market liquidity and falling sponge and semi-finished steel prices. Godawari Power & Ispat (GPIL) lowered Fe63.5% pellet offers by INR 500/t to INR 9,900/t ($117/t) exw. Last week, sponge PDRI fell INR 1,250/t ($15/t) w-o-w and INR 2,000/t ($24/t) m-o-m to INR 25,350/t ($300/t) exw-Raipur.