Raipur-based pellet producers reduced their offers for Fe 63/63.5% (+/-0.5%) material by INR 400/t ($5/t) to INR 9,850-9,900/t ($112/t) exw towards the closing of last week. A drop in sponge iron prices, along with cost-competitive landed pellet offers from eastern India, pulled down pellet tags in the central belt.
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