India: Pellet prices in Bellary remain range-bound, fall likely

Iron ore pellet (Fe 63%) prices in Bellary, Karnataka remained range-bound at INR 10,200/t exw today, as per SteelMint assessment.

• Deals for 10,000 t were confirmed in this publishing window at around INR 10,100-10,300/t exw. Drop in sponge prices may result in lowering of pellet offers in the near term.
• Pellet-based sponge iron, P-DRI, prices moved down to INR 37,200/t exw against INR 38,000/t on 19 April.