With rising imports of iron pellets in Indian market in 2012, Indian steel makers have reported to get many offers from Brazilian and Canadian iron pellet manufacturers in recent time.
Offers stand at almost same levels from last week, though no deals have been heard concluded recently said industry traders.
“There are many offers from Brazilian manufacturers for 65% Fe at around $130-135/t CFR west coast and Canadian pellets are being offered at around $145-150/t CFR for 66% Fe.Though there are no deals done and we are comfortable sourcing it from domestic market. Also increasing pellet production in India, we see pellet prices going down in medium to long term.” said a manufacturer based in Gujarat, India.
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