Jindal SAW Ltd has raised its pellet offer by INR 700/t. Current offer for Fe 63% grade pellets stands at INR 13,000/t DAP Kandla, SteelMint learned from sources. The company has a pellet plant of capacity 1.2 mn t pa in Bhilwara and is a key source of raw material to Gujarat-based plants. Continuous price rally in imported iron ore has resulted in hike in western India pellet offers. Spot iron ore Fe 62% fines price surged by $7.5 on a d-o-d basis yesterday to $158.25/t CFR China on near-term supply concerns.
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