India: Pellet prices in Bellary inch up on sponge price recovery

Iron ore pellet (Fe 63%) prices in Bellary inched up to INR 10,200/t exw today against INR 10,100/t on 22 Feb, as per SteelMint’s assessment.

• No confirmed deal was reported in the current publishing window. Prices are expected to rise further in the near term following the rally in sponge and coal prices.
• Pellet-based sponge iron, P-DRI, prices moved up to INR 35,250/t exw against INR 33,400/t on 22 February.