Pellet market in central India noticed a marginal improvement in last few days. High iron ore price in Chhattisgarh and stability in the P-DRI (pellet sponge) prices have supported pellet buying. Some pellet manufacturers have heard to resume production which were on hold last week.
Trade sources highlighted that a Raipur based pellet maker has concluded a deal at around INR 4,400-4,450/MT (basic). However the offers for Fe 62% pellets remain stable at INR 4,500/MT.
Raipur based pellet manufacturers do not anticipate any significant drop in pellet prices in coming term. And are expecting that prices will hold the current level.
“Pellet buying has remained weak in last 15 days and there were no bulk deals heard to have happened. But, there was positive sign in the pellet market today. However, for how long will the improved buying will continue, remains an ambiguity” quoted a pellet maker in Raipur.
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