For its enrolled customers, KIOCL opened Iron Pellet (Fe 63) prices for June at Rs 7,450/MT (Ex works Mangalore), down by Rs 100/MT MoM. The offer price is Free on Truck (FOT), Pellet plant unit, Mangalore port, exclusive of all taxes, duties & levies.
Pellet purchases is price sensitive in present day and customers are not opting to buy the raw material in large quantities.
A total of 2.5 MnT tons of Pellet was produced by KIOCL in May 2013 and sales stood at 1 lac tons (equal to April).
As exports are not viable and trades limited to domestic market only, sales in Pellets have come down.
Looking at the high stock position, the company might hold Pellet production in June.
Earlier, in April, KIOCL held production on similar reason stated above.
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