India:: Iron fines price cut will give some relief to pellet manufacturers

Indian pellet manufacturers take some sigh of relief after iron ore miners in Odisha cut fines prices after a long time.

Iron pellet prices were under pressure on falling sponge prices across India, power crisis and low iron ore offers.

“Demand has not been very encouraging, there is further scope of correction in pellet prices. Though cut in fines prices will give some relief to us.Sponge manufacturers prefer iron ore over pellets as sponge made out of iron ore has better demand and value.” said a pellet manufacturer based in Odisha.