Jindal SAW reduced its pellet (Fe63%) offers by INR 600/t ($7/t) to INR 10,000/t ($118/t) DAP Kandla on 7 May, with deals for around 10,000 t concluded at these levels. Competitive offers and active import deals for Middle East-origin pellets by Gujarati mills weighed on local pellet prices. Weak market sentiment in the downstream steel sector also contributed to the reduction in pellet offers.
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