India: Bellary pellet offers rebound on rising sponge prices

Bellary iron ore pellet (Fe 63%) prices have increased to 13,000/t exw as against INR 11,700-11,800/t on 1 Oct’21, as per SteelMint assessment.

• Confirmed deals of about 3,000 t were recorded at around INR 13,000/t exw.
• P-DRI prices rose to INR 35,600/t exw against INR 33,700/t, as assessed on 1 Oct’21.
• Prices are expected to continue the uptrend due to rising coke prices.