Durgapur-based pellet producers hiked offers for Fe62.5% (+/-0.5%) material by INR 200-300/t ($2.5-3.5/t) to INR 9,600-9,700/t ($110-111/t) exw. The increase in offers led to a significant rise in iron ore prices due to a shortage in the eastern region, as heavy rains disrupted production. Meanwhile, PDRI prices in Durgapur rose by INR 150/t ($2/t) w-o-w to INR 23,500/t ($269/t) exw.
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