“Iron ore supply might tighten by around 30% more if closure of mines continues, said Managing Director of Ardent Steel Ltd, Mr. Sanjay Gupta at Keonjhar, Odisha which 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”.
“Imports of Pellets might take place on rising prices. Exports is less due to good demand in India and high railway freight 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 added.
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