India: Pellet prices in Bellary fall further on thinning trade

Iron ore pellet (Fe 63%) prices in Bellary have fallen to INR 11,500-11,600/t exw compared to INR 11,700-11,800/t on 9 Nov’21.

• Deals for around 4,000 t were heard at INR 11,500-11,600/t exw.
• Sponge iron, P-DRI, prices fell to INR 30,700/t exw against INR 32,200/t a week ago.
• Pellet offers may drop further amidst falling bids, sources informed.