Rising iron ore prices in Chinese market have supported Iron Pellet offers to move up in last one month, confirmed sources.
“There are offers for 65% Fe Pellet at around $165/t CFR Kandla, though domestic Pellet prices are comparatively cheaper by Rs 300-500/t.
We do not think anyone would be interested in importing Pellet at the moment when they can source it locally”, said a purchase manager to one of the steel plants based in western India.
Current offers from Indian manufacturers are standing in the range of Rs 7,500-7,800/t for Fe 63%+ (Ex works Odisha).
Market participants mentioned that rising iron ore prices in global market will not help domestic players to raise their offers in near term.
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