India: Raipur-based pellet producers cut offers by up to INR 1,000/t ($14)

Central India, Raipur-based pellet manufacturers have reduced offers sharply by around INR 1,000 ($14) on 24 May’21, SteelMint learnt from sources. Current offers for Fe 62.5-63% pellet stand at INR 15,500-16,000/t, exw Raipur. Bid-offer disparity owing to decline in sponge iron prices and competitive landed cost offers from producers in West Bengal at INR 13,900-14,000/t, exw, have resulted in a drop in offers.