Raipur-based pellet makers reduced their offers for Fe 62/63% (+/_0.5%) material by INR 200/t ($2.5/t) to INR 9,000-9,100/t ($105-106/t) exw-Raipur on 30 May. Meanwhile, deals are yet to be concluded at revised prices. Sponge PDRI prices in Raipur fell by INR 500/t ($6/t) w-o-w to INR 23,700/t ($277/t) exw on 29 May. Bid-offer disparities and pressure from the downstream steel market led to the drop in offers.
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