A major Iron Pellets producer in Raipur, Chhattisgarh closed bookings the week before and were to take a decision on the pricing of the raw material.
Fe 63 Iron Pellets of size 3-18 mm was offered at Rs 9,500/MT last and current prices stand at Rs 9,600/MT (Basic) for the same. No orders have been received at new prices as of now.
According to a senior official of the company, “We have decided to take new bookings at this price looking at offers made by Iron Pellets producers in Odisha as the landed cost in Odisha stands in the range of Rs 9,800-9,900/MT.
Buying interest from Iron Pellets users has come down due to cheaper iron ore lumps and as few of the sponge iron makers have chosen to stop operations”.
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