“Iron Ore Pellets was offered at Rs 6,900/MT (Basic) for around last ten days and production was below 50% as buying from the Sponge Iron manufacturers was quiet limited”, said Mr D Vaman Rao, Senior General Manager, Raw Materials at Hospet Steels Limited, Koppal, Karnataka.
“Sponge iron plants use 100% Iron Ore Pellets. Whereas, blast furnace users can do with only 20-30% of it. Therefore, Iron Ore Pellets market is impacted accordingly with that of sponge iron.
Demand from Sponge Iron plants has increased. Hence, production of Iron Ore Pellets is above 50% and it is being sold in the range of Rs 7,000-7,500/MT (Basic) presently”, the official added.
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