West India (Rajasthan) based pellet maker – Jindal SAW lowered pellet (Fe 63%) offers by INR 300/MT for the week. Current offers are at INR 7,500/MT (delivered Kandla) as against INR 7,800/MT towards the beginning of this week.
Spot Global iron ore fines index down sharply: The global iron ore fines prices (Fe 62%) has decreased to USD 83.1/MT, CFR China yesterday (27th Aug) as against USD 118/MT, CFR China a month back. The prices have dropped by around USD 34-35/MT CFR China against hovering at five years high levels at USD 126/MT, CFR China towards early July. On daily basis, prices decreased by around USD3/MT against USD 86/MT, CFR China at the beginning of this week.
Jindal SAW runs a 1.5 MnT pellet plant in Bhilwara (Rajasthan).
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