India: Bellary pellet prices continue downtrend in recent deals

SteelMint assesses Bellary iron ore pellet (Fe 63%) prices at INR 11,200-11,300 against offers at INR 11,400/t on 3 Sept’21.

• Confirmed deals of about 5,000 t were recorded at around INR 11,200-11,300/t exw-Bellary.
• SteelMint’s assessment for Bellary pellet sponge (P-DRI) remains rangebound at around INR 28,700/t exw
• NMDC has decreased base prices for its auction from the Donimalai mines by around INR 1,000/t for iron ore fines and lumps.