Karnataka, Bellary-based iron ore pellet producers are expected to witness a decline in prices with low bids received amid the downslide in sponge iron prices, as per latest SteelMint reports. A few pellet makers are quoting at around INR 13,500/t, exw-Bellary, for Fe 63% material. However, bids are heard at around INR 13,000/t, exw. Also, pellet sponge (P-DRI) offers fell by about INR 900/t compared to prices that prevailed towards the end of last week. The latest deal to have been heard concluded towards the end of last week for 3,000 t pellets was at INR 13,500/t, exw.
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