Indian pellet manufacturers hold offers as number of queries have increased from sponge plants based in East and Central India.
Buyers are looking to stock before monsoon, also there are few big mines, which are either closed or running at much lower capacity. These factors have supported pellet prices in India, reported market sources to SteelMint.
On an average 3-4 rakes are being loaded from Barabil (Odisha) where prices are offered at Rs 9,000-9,100/t (Loaded to wagons) for 63% Fe.
“On going mining problems in Karnataka, availability of iron ore is very critical, though it expected to get better in 2-3 months. Pellet manufacturers have no other option but to buy from E-auction at much higher prices.Current prices are in the range of Rs 8,300-8,500/t for 62% Fe.” reported a pellet manufacturer based in Bellary (Karnataka).
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