Looking at the softening prices of sponge iron in domestic market and quiet weak demand for Iron Pellet, manufacturers based in the state of Odisha, have lowered prices in the range of Rs 200-300/MT.
Prevailing Pellet prices:
Barbil Rs 7,400/MT (basic loaded to wagons), down by Rs 300/MT
Keonjhar Rs 7,400 and Raigarh Rs 7,550/MT (ex works), drop of Rs 250/MT
One of the large manufacturer of Pellet in Odisha has taken a shut down on annual maintenance reasons, for about a month's time.
Though, this could have proved as an advantage for other producers in large and allowed them to sell at higher prices, but no buying interest at the moment, has offset the same.
Odisha based Pellet makers told SteelMint, “There is no demand for the raw material even after offering it at cheaper prices.
In the days ahead, we forsee a further drop in Pellet prices, provided there is no improvement in trades from the sponge iron units”.
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