With recent cut in iron ore prices by premier mine owners, sponge manufacturers are more inclined to buy high grade iron ore than pellets.Currently iron ore of 63% Fe is offered at Rs 8050/t, where as pellets of same grade is offered at Rs 8,700/t in Barbil (Odisha).
“We have shifted our purchases to iron ore as realization is better than pellets, we expect pellet prices to come down by Rs 400-500/t.” said a sponge manufacturer.
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