KIOCL, state owned Iron Pellet producer with an annual production capacity of 3.5 million tons, located in Mangalore (Karnataka) has closed a deal for Iron Pellet domestic sales with steelmaker based in the West coast of India.
The company is to ship (Vessel name – M V Jag Rishi) a total of 40,000 tons of Pellet with Fe 64/63 from Mangalore Port (West Coast) at Rs 7,450/MT FoB, according to industry sources.
Demand in Pellets has not been very encouraging from the beginning of the month.
KIOCL has been able to sell about 50,000 tons of Pellet till date from the leftover stock of 1.5 lac tons in the month of May.
Pellet prices have been under pressure across Indian market over weak demand from Sponge iron manufacturers and prices in Odisha have corrected by almost Rs 300-500/MT in last few weeks.
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