Pellet (Fe 63%) prices in Bellary, Karnataka inched down by INR 50/t to stood at INR 10,700/t exw on 9 Feb’24 compared to 6 Feb. Deals of around 3,500 t were concluded at INR 10,650-10,700/t exw. Subdued demand has lowered trade volumes in the region and the pellet prices are influenced by the downtrend in sponge iron and finished steel prices. Meanwhile, sponge (P-DRI) prices have decreased by INR 200/t w-o-w to INR 26,250/t exw.
