India: Pellet prices in Raipur drop by INR 600/t ($7/t) amid downtrend in steel market

Raipur-based pellet makers reduced iron ore Fe63% (+/_0.5%) offers on 28 Oct'24 by INR 600/t ($7/t) to INR 9,800-9,900/t ($117-118/t) exw amid the continuous drop in sponge and semi-finished steel prices. Godawari Power and Ispat (GPIL) reduced Fe63.5% and Fe65.5% pellet offers by INR 600/t to INR 10,400/t ($124/t) and INR 11,600/t ($138/t) exw. However, deals are yet to be finalised at the revised tags.