Friday,25th March
Indian pellet prices might see some correction in the month of April, said Industry sources..* Currently pellet prices are hovering around Rs 8000/MT (Ex works-Orissa,).
Demand for Iron ore lumps and pellets have gone down in last one month despite of the fact that major mines are still not operational in Orissa.Reasons behind it are
1) Sponge units running at lower capacity
2) Sluggish Steel demand
3) Higher Coal prices (Recent hike by Coal India ltd)
Industry experts feel that pellets price should correct in the month of April, as pellet manufacturers are carrying good stock with them and iron ore fines/ blue dust, which is used in making pellets have lost its demand after govt hiked export duty.So they will get the raw material at a cheaper price.
Currently demand for iron ore fines is almost nill said Mr Agrawal, an exporter based in Orissa. Miners might cut there prices soonhe added. Cheaper raw material will allow them to sell their product at a cheaper prices he commented.
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