Import offers of Iron ore Pellet to India is almost unvarying as compared to previous quotes, in the beginning of March.
Exporters are offering Pellet in the range of $170-175/MT CFR India, which is costlier than the domestic prices in the present day and it does not make sense to import Pellet at the moment.
“Indian Pellet imports might not be a requirement in the near future as prices are fine quoted, standing in the range of Rs 7,400-7,500/MT (ex works prices) in Indian domestic market.
We are offering Pellets around $180/MT CFR levels. Our Pellets is doing well and buying is good in the overseas market.
Bottom lines in international market might touch $130/MT for iron ore fines and not below that”, a senior official of Vale, world's largest iron ore and pellet producer shared with SteelMint.
About Indian iron ore prices, he said that “I don't see any downward trend in India's largest state owned iron ore miner – NMDC prices for March.
Lumps prices of NMDC have softened last month and sales of fines in e-auctions is at 100% due to which prices have no room for correction”.
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