India: BigMint’s pellet export index sharply falls by $7/t w-o-w amid absence of trades

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BigMint’s India pellet (Fe 63%, 3% Al) export index (FOB east coast) significantly decreased by $7/t w-o-w to $90.5/t on 14 Aug’24. Prices dipped by $2.5/t as against $93/t on 9 Aug’24.
Pellet demand in the sea market has dropped on weak demand. Moreover, bid-offer disparity prevailed.
DCE iron ore futures for January 2024 contract also fell by RMB 36/t ($5/t) w-o-w to RMB 713/t ($100/t) today.

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