Raipur-based pellet producers cut their offers for Fe 62/63% (+/_0.5%) material by INR 300/t ($3.5/t) to INR 8,700-8,800/t ($102-103/t) exw. The drop in prices followed NMDC’s price cut for iron ore and poor sentiments in the sponge iron and semi-finished steel markets. Meanwhile, no deal was concluded at revised offers, but some inquiries are lined up. So, some deals may conclude today.
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