- Low demand and prices of sponge iron (DRI) accounted for a fall in Iron Ore Pellet offers up to Rs 700/MT this week.
- Though, iron ore supply was limited, Pellet takers were unwilling to pay high and had come down in terms of quantity.
- Offers in South India was at the lowest level as 50% of sponge iron plants were closed, Fe 55 or 56 iron ore fines available through e-auctions was not suitable for Pellet making for all, except those with a benefication plant.
- Plants located near the coastal areas imported Fe 64 & 65 Pellets at Rs 8,200/MT (landed cost) from Ukraine, Brazil and Australia.
- In the coming week, Pellets prices have fewer chances to rise as a 3-4% of correction in iron ore lumps prices is expected by NMDC.
Leave a Reply