India: Mills in Raipur cut pellet offers by up to INR 1,000/t ($13/t)

Raipur-based pellet producers have decreased their offers by INR 700-1,000/t ($9-13/t) today. The current offer for Fe 64/63% pellet stands at INR 13,500-13,800/t ($177-181/t) exw, down from INR 14,500/t ($191/t) on 25 Mar’22. Meanwhile, Godawari Power and Ispat Ltd. (GPIL) has cut offers by INR 700/t ($9/t) to INR 13,800/t ($181/t) exw. Weak demand on declining sponge iron prices resulted in the drop in pellet offers, SteelMint notes.