1. Iron ore Pellet demand was weak due to fall in sponge iron prices by over Rs 1,000/MT in past
three weeks.
2. Producers were forced to
cut Pellet offers on inventory pressure, high offers not being accepted and as a private miner in Odisha cut iron ore
prices by Rs 400/MT.
3. Drop in Pellet prices in a week's time, as given – Keonjhar and
Jharsuguda Rs 400/MT and Barbil (Odisha) Rs 200/MT,
Tatanagar (Jamshedpur) Rs 100/MT.
4. Imported Pellet prices and offers at Raipur stabilized.
5. There were limited buyers
for Pellet as many of the sponge iron units had either taken a shut down
or were running at lower capacities.
6. In the week ahead, further
drop of Pellet prices is expected looking at the current market scenario
and due to no improvement in finished steel demand.
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