The acute shortage of iron ore fines and availability of expensive lumps coupled with factors such as only about half of operational sponge iron plants running at minimum capacities, have impacted trades in Iron ore Pellet, in the state of Karnataka.
In the beginning of May, manufacturers of Pellets have reduced prices, though marginally and are offering discounts of Rs 150/MT too, on bulk purchases of 5,000 tons.
For low grade (Fe% 60) material, offers are quoted at Rs 6,600/MT and high grade Pellet (Fe% 62) prices are at Rs 7,100/MT to Rs 7,300/MT.
Ex works prices at Bellary.
Sponge iron prices are stable at the moment after a drop of Rs 300/MT in last one week, due to which, sales look to improve.
Pellet makers have also procured iron ore fines (Fe% 60) from e-auctions in the state, in the last week of April, at higher booking prices.
Demand for Pellets in Raipur (Chhattisgarh) and Tatanagar (Jharkhand) have also been stable, resulting in prices to remain constant.
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