Iron Pellet prices in the state of Odisha continue to fall further.
Manufacturers have pulled down offers by Rs 200/MT more for the current week.
Prevailing Fe 62 Pellet prices:
Barbil: Rs 6,500-6,600/MT, down by Rs 200/MT
Keonjhar: Rs 6,300-6,600/MT, down by Rs 100/MT
Ex works prices
Offers are at quite low levels and have dropped by Rs 500/MT W-o-W and by Rs 900/MT M-o-M.
In the last week, one of the manufacturer was using Pellet for captive consumption rather than offering it at prices below Rs 7,000/MT. It has resumed domestic sales at Rs 6,600/MT for this week.
“We have cut offers, most importantly, due to poor buying from Sponge iron units and supply (high) and demand (low) mismatch in Pellets.
Finished steel demand is quite weak due to which Sponge iron units are bearing losses.
Pellet might be available at cheaper rates further in June, until and unless buying from Sponge iron units improves”, said Odisha based Pellet producers.
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