Durgapur-based pellet producers have raised offers today by INR 1,000/t ($14) to INR 14,500/t, exw, as against offers of INR 13,300/t, exw, floated towards the end of last week. Hike in pellet export realizations amid increase in global iron ore prices and rise in the base price at OMC’s upcoming auction have resulted in higher offers. OMC has scheduled its next e-auction for 2 June for a total of 619,000 t of iron ore lump. The base price has been hiked by up to INR 1,500/t compared to the last e-auction on 31 Mar’21.
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