“Selling pressure is built up but we have no plans to lower prices, which is standing in the range of Rs 7,750-7,800/MT (Fe 63, basic price) due to enough of volumes at the moment”, said a major Pellet manufacturer in Barbil (Odisha).
As NMDC is to revise iron ore prices this week, Pellet market will also be dependent on lumps prices.
Buying activities for Pellets is expected to be good provided offers for lumps witness some upward movement.
No improvement in iron ore availability in Bellary (Karnataka) has accounted for market to remain firm and daily sales volume has reduced.
At Tatanagar (Jamshedpur), prices fall by Rs 300/MT to Rs 7,700/MT (Basic) on account of stagnant demand for last couple of weeks.
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