- Pellet demand improves amid tighter supplies
- Raipur P-DRI prices rise on active procurement
Pellet manufacturers in Raipur, Chhattisgarh, have raised offers for Fe 62.5/63% (±0.5%) grade pellets by INR 300/t ($3/t) to INR 11,100-11,200/t ($116-117/t) ex-works. The hike was supported by improved buying activity and short-term supply tightness in the market.
Supply availability has tightened as multiple pellet plants have undergone shutdowns for maintenance. Some Raipur-based sellers have also kept sales closed for the past few weeks, further limiting spot availability. Market participants expect the supply situation to remain relatively tight in the near term.
Recent transactions of around 40,000-50,000 t were reported at the previous offer. Sellers have raised offers amid expectations of continued improvement in market conditions and a recovery in buying interest from consumers.
Meanwhile, Raipur P-DRI prices increased by INR 750/t ($8/t) w-o-w to INR 29,250/t ($305/t) on 28 September. The rise was supported by strong buying activity over the past few days, with domestic consumers actively replenishing inventories amid stable finished steel demand.
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