India: Raipur-based pellet producers cut offers by up to INR 1,500/t ($21)

Central India, Raipur-based pellet manufacturers have cut offers sharply by around INR 1,000-1,500/t ($14-21), as per the latest updates available with SteelMint. Current offers for Fe 62.5-63% pellet stand at INR 16,500-17,000/t, exw Raipur. Lower bids on falling sponge iron prices coupled with declining pellet export realisations have resulted in a sharp fall in offers, SteelMint understands.