India: Bellary pellet prices drop on falling sponge prices

Bellary iron ore pellet (Fe 63%) prices have decreased to INR 12,700-12,800/t exw as against INR 13,000/t on 5 Oct’21.

• Confirmed deals of 13,000 t were recorded at around INR 12,600-12,800/t exw.
• P-DRI prices fell to INR 34,800/t exw against INR 35,600/t assessed on 5 Oct.
• P-DRI prices have dropped during the week amid declining coke prices due to distress sale by traders.