Indian Iron Pellet prices stable this week; might stand at same levels further

Iron Pellet makers in India maintained offers in the current week. Only a couple of them raised prices by Rs 200-300/MT.

Pellet prices stand at Rs 8,000/MT from Rs 7,700-800/MT last (Ex Tatanagar) at Adhunik Metaliks Ltd and another manufacturer at Raipur raised offers from Rs 9,000/MT to Rs 9,200/MT (Basic) on decent demand and improving steel prices.

 Fe 65% imported Pellet prices moved up by $10/MT to $170-175/MT CFR Kandla due to rise in Chinese iron ore prices.

Indian buyers are uninterested to make imports as domestic offers are cheaper by Rs 300-500/MT for same grade. 

In the week ahead, rise in international iron ore prices might not allow Pellet prices to move up in Indian domestic market.