Iron ore Pellet buying at present is only need based and not an open willingness to buy.
It is not viable for standalone sponge iron units to procure Pellet but to keep their mills running, integrated steel plants are continuing to make purchases.
Hence, Arya Iron & Steel Co. Pvt Ltd cut offers for Fe 63 Pellet by Rs 200/MT to Rs 7,500-7,550/MT (loaded to wagons, Barbil, Odisha). The company sold Pellet at Rs 7,500/MT last.
Shrinking margins and hardships being faced by sponge iron industry might result in further drop of prices by Rs 200/MT.
It is being difficult for Pellet manufacturers to generate inquiries in good numbers, as of now.
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