“Limited availability of power in South India even at higher tariff has affected the value of Iron Pellets in a big way.
We tried to raise offers slightly but the secondary steel manufacturers chose not to buy”, said Mr. Rohit Mittal, President of Janki Corp Ltd at Bellary, Karnataka.
“It is quoted at Rs 7,150/MT, a rise of Rs 150/MT from Oct end. Around 15,000 tons was unsold out of 45,000 tons of output in Oct. The same quantity is to be produced in Nov.
Any gain in offers for at least a week is not feasible due to continuing power issues for last 3 to 4 months, close down of few induction furnaces and lack of iron ore, though some quantity was bought through e-auctions”, he shared further.
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