Iron Ore Pellet market in India is expected to show resistance in December as manufacturers have less hopes of any upward trend in prices for a couple of weeks. They might either stabilize or come down slightly as sponge iron prices are not picking up.
Iron Ore Pellet plants are running at low capacities as of now and offers have already been pulled down by almost all the manufacturers in the country.
Sponge iron users are holding a wait and watch attitude and observing the movement in sponge iron markets.
Buying volumes of Iron Ore Pellets have reduced slowly as buyers are unwilling to pay anything high. In last few days, the material has been imported at lower prices by plants located near the coastal areas.
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