Iron Pellet prices moved up by almost 8-10% in last one month in India amid iron ore crisis in Karnataka and Odisha have not impacted sponge iron (DRI) prices to a large extent.
“Manufacturers are unwilling to accept high pellet prices as sponge iron prices are at similar levels. Industry is already suffering and high raw material prices will make it worst.
“We will prefer to take a shut down rather than running at losses. Pellet prices might not rise further as it won't attract many buyers”, said Mr. Agarwala, a sponge iron manufacturer in Chhattisgarh.
“Current Pellet prices stand in the range of Rs 8,000-8,500/MT (Ex Works) across India and imported Pellet offers are not viable at the moment”, he added.
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