Iron Pellet manufacturers have reduced their offers in the first week of the month, for high as well as low grade material.
Sales was weak in the month before and Pellet producers are looking to get rid of last months leftover stock.
Though, offers have maintained in May, manufacturers pulled down prices by Rs 300/MT (Fe 62) and Rs 100/MT (Fe 60) during the first week of June as they have been unable to meet with good demand.
Current Pellet Prices (Rs/MT):
Bellary (Karnataka)
Fe 62 grade: 6,800-7,300, down by 300
One of the manufacturers is offering a discount of Rs 75/MT on purchase of 10,000 tons
Fe 60 grade 6,400-500, drop of 100
Pellet prices might go further down by Rs 100/MT more during the next week, provided trades don't improve, said sources..
Other locations:
Raipur (Chhattisgarh) 8,300-8,400
(Ex works prices)
Offers remain stable as Pellet sales is not very encouraging and Sponge iron units are uninterested to procure the material in large quantities.
Tatanagar (Jamshedpur): Rs 7300/MT, a fall of Rs 200/MT.
Pellet manufacturers in Jamshedpur have to bear selling pressure and hence have reduced offers by Rs 200/MT.
Leave a Reply