Iron Pellets price hike in India not accepted by sponge iron manufacturers            

Iron Pellets manufacturers have kept offers unexpectedly high over disturbed supply
of iron ore from Odisha and Karnataka.

Current offers from a large manufacturer i.e. Jindal, stands at around Rs 8,900/MT (Loaded to wagons, Barbil Siding
Odisha). “There are limited buyers at this price as sponge iron market is dull across India and steel mills are not
willing to pay extra”, said sources.

An
official at Sarda Energy & Minerals remarked, “Pellets offers fall by Rs
200/MT to Rs 9,500/MT at Raipur as
NMDC lowered iron ore lumps prices by 12%”.

In
southern part of India, Pellet prices are more or less stable at Rs 7,800/MT for Fe 62 as
sponge iron plants are running at lower capacities.