With stable iron ore prices in international market, sellers of Iron Ore Pellet have almost unchanged offers to Indian buyers. Prices are standing at around $145-146/MT CFR for 63 Fe content.
There is no buying interest for Iron Ore Pellets from Indian buyers amid falling sponge iron (DRI) prices and easy availability of Iron Ore Pellets in the domestic market.
With offers hovering in the range of Rs 8,000-8,500 per tonne (Basic) in domestic market, imports are expensive by almost Rs 800-1,000 per tonne for the same grade.
“Weak Rupee and falling steel prices in Indian market have kept buying interest negligible. Chances are less that imports will take place in near term.” said a steel manufacturer based in the western coast of India.
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