India: Bellary pellet prices edge lower this week

Iron ore pellet (Fe 63%) prices in Bellary dropped to INR 10,500-10,700/t as against INR 10,900/t exw assessed on 19 Nov’21.

• Confirmed deals for around 2,000t were heard at INR 10,500/t exw.
• Sponge iron, P-DRI, prices fell to INR 29,200/t exw as against INR 29,600/t exw assessed on 19 Nov.
• Pellet prices may drop further in the near term.