“Indian pellet prices have further scope of correction”-Industry Experts

Indian rapidly increasing pellet industry is currently under pressure on falling steel prices and lower realization that iron ore.

“Looking at current scenario,with rising power prices ,falling sponge prices and hopes of mining activities to re-start in Karnataka, we can expect further correction in pellet prices by Rs 400-500/t in coming weeks.

Sponge manufacturers do not want to experiment with pellets in highly sluggish market.” said an industry veteran.