Indian sponge iron producers are likely to switch over to iron ore pellets contrasted with iron ore lumps on limited availability, as per latest updates from sources. The sharp decline in pellet export realisations has resulted in a decline in domestic offers. On the other hand, deliveries of iron ore lumps from the auctioned leases in Odisha have come under a cloud, with most miners being imposed hefty penalties subsequent to missing MDPA targets.
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