“Rising iron ore prices in Chinese market have raised imported Iron Pellet offers to India which is unaffordable”, said importers and steel manufacturers.
“There has been much hype that India will be importing Iron Pellets in huge quantities, which seems to be fading out amid cheaper and easy availability of the material in domestic market.
Imported Pellets are expensive by Rs 500-800 per tonne. Current cost of procuring Pellets from domestic market is around Rs 9,800-9,900/MT for 63-64% Fe (delivered to plant) at Indian West coast.
Whereas, the option of importing the material will cost us around Rs 10,800-11,000/MT for 65% Fe”, a steel manufacturer based on the western coast of India told SteelMint.
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