Raipur-based pellet makers reduced their offers for Fe 62.5/63% (+/_0.5%) material by INR 200/t ($2.5/t) to INR 9,100-9,300/t ($107-109/t) exw today. The recent m-o-m drop in bids at the OMC fines auction and weaker market sentiments led to a fall in pellet offers. Meanwhile, competitive offers from Odisha also contributed to the drop in Raipur’s tags.
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