“Iron ore supply might tighten by around 30% more if closure of mines continue and will lead to low output by sponge iron manufacturers. We are to produce 60,000 tons of Pellet this month and are selling at Rs 8,400-8,500/MT. 51,000 tons was sold in Oct at Rs 8,300/MT last”, said Managing Director, Mr. Sanjay Gupta at Ardent Steel Ltd, Keonjhar, Odisha.
“Imports of Pellets might take place on rising prices. Exports is on hold on huge domestic requirement and high railway freight charges of Rs 2,400 to Paradeep Port.
Price should be same till Nov mid and fluctuate later depending on the finished and iron ore market”, he said.
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