Arya Iron & Steel, one of the largest merchant pellet manufacturers in the eastern region with an annual capacity of 1.2 MnT, has cut pellet prices by INR 400/MT.
Current offers are assessed at INR 3,000/MT, as per loaded to wagons. In the beginning of this week the pellet maker was seen offering pellets at INR 3,400/MT (loaded to wagons). Owing to reduced bookings the pellet maker has cut prices by INR 400/MT.
As per railway data tracked by SteelMint, Arya Iron & Steel has supplied merely 2 pellet rakes in Nov’15 (till 20 Nov’15). The pellet maker has supplied 1 rake each to Super Smelters and SPS Steel Rolling mills.
Indian pellet prices are under constant pressure over subdued demand from sponge iron manufacturers. Barbil pellet prices have fallen by INR 800/MT in last one month.
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