Jindal SAW has reduced pellet (Fe63%) offers by INR 400/t ($5/t) to INR 11,800/t ($142/t) DAP Kandla today. Buyers avoided buying at new offers amid further price cut expectations in the coming days. Pellet offers declined as iron ore (Fe 62%) fines spot prices fell by $7/t d-o-d to $122/t CFR China yesterday amid weak steel demand and low restocking activity post-CNY holidays.
