Iron ore prices meet with no correction in the mid of the month and its acute shortage continues to exist as permissions to lift iron ore have not yet been granted by Odisha Government.
There is also no relief from the downward trend of sponge iron prices and low demand with less than 50% of the plants running at present.
The above factors have resulted in the further drop of Iron ore Pellet prices. Manufacturers are currently offering Pellet in the range of Rs 7,100-7,300/MT and Rs 7,400-7,600/MT in Keonjhar and Barbil (Odisha) respectively.
Pellet imports are costlier as landed cost in domestic market is quoted at Rs 500/MT less for the similar grade as compared to imported cost of Pellet at $150/MT CFR Kandla.
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