Iron pellet manufacturers keep their offers unaltered in starting of the week, however demand remains subdued, highlight market participants. Current offers for Fe 63% hovers at around
Rs 7,000/t at Barbil (Odisha),
Rs 8,200-8,300/t at Raipur (Chattisgarh),
Rs 7,400-7,450/t at Mangalore (Karnataka).
Sponge iron manufacturers believe that there is further scope of correction, as current sponge prices are not very encouraging also with increased availability of pellets, chances are high that prices may fall by another Rs 200-300/t.
On the another hand there are rumors that much awaited 4 million tonne pellet plant of Stemcor also know as BRPL situated in the state of Odisha, has started its trial production and will offer its pellets soon in the market (Company officials were unavailable to confirm the news).
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