Pellet (Fe63%) prices in Bellary, Karnataka dropped by INR 150/t ($2/t) to INR 9,350/t ($111/t) exw on 27 Aug’24 compared to 23 Aug. Around 17,000 t of deals were recorded at INR 9,300-9,400/t ($111-112/t). Sponge iron (P-DRI) prices were largely stable w-o-w at INR 25,800/t ($307/t) exw. Decline in sponge prices and lower offers of pellet have pressurised prices in the region.
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