Iron pellet prices in India remained strong on high sponge prices and low availability of Iron Ore in Orissa and Karnataka.
“Pellet prices in Orissa are hovering around Rs 9,200-9,300/t (Ex Plant) for 63%+ Fe. Inquiries are good from sponge manufacturers as procuring Iron ore takes lot of time.
Also big miners like Rungta and Essel mining are over booked for next few months. Prices likely to remain stable in near term.” said a pellet manufacturer based in Barbil (Orissa).
Pellets of 61% Fe is quoted around Rs 8,100/t in Bellary, where manufacturers are buying iron ore fines of inferior quality at higher price through e-auction, said market traders.
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