Kudremukh Iron ore Company Limited (KIOCL), a state owned Indian Pellet exporter is likely to open price bids of 50,000 tons Pellet exports tender (Mangalore port) on the 7th (thursday).
In domestic market, Iron Pellet offers have witnessed a marginal fluctuation of Rs 100/MT only in a couple of locations with no movement seen in others.
At Raipur, prices gain Rs 100/MT to Rs 9,200/MT (basic). Whereas, drop by the same to Rs 7,600/MT (basic) at Tatanagar (Jamshedpur).
“Trades in Pellet have started improving in smaller quantities. Sponge iron prices that were on the bottom side look to revive now.
The moment sponge iron prices takes an upward direction, cost of raw material – Pellet have chances of moving up.
Pellet offers might gain Rs 200/MT more in the days ahead and don't seem to drop further”, said a Barbil (Odisha) based Pellet producer.
In Southern part of India, Xindia Steels holds offer at Rs 7,500/MT (Ex works Bellary prices of Fe% 62) as there is not much of buying activities taking place at the moment.
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