India: Bellary pellet prices remain stable in recent trade

SteelMint’s assessment for Bellary iron ore pellet (Fe 63%) stands at INR 13,000/t exw, stable as against the last assessment on 3 Aug’21.

• Confirmed trade for about 4,000 t of pellets was concluded at around INR 12,800-13,000/t exw in the last couple of days.
• Pellet offers are hovering at INR 13,000/t exw. However, buying interest seems limited at these offers, shared a market participant.
• The market is awaiting the price announcement for NMDC’s Karnataka auctions in order to gauge upcoming trends.