Jindal SAW has increased pellet (Fe63%) offers by INR 300/t ($4/t) to INR 12,800/t ($154/t) DAP Kandla recently. The buyers booked 10,000 t of pellets at new offers. The pellet offers were hiked as iron ore (Fe 62%) fines spot prices increased by $6/t w-o-w to $136/t CFR China amid improved macroeconomic factors. However, finished steel prices dropped by INR 200-300/t w-o-w in Gujarat.
