Iron Pellet prices in Odisha (India) correct further by Rs 200-300 per tonne

Iron Pellet prices in Odisha come down further by Rs 200-300 per tonne on falling sponge iron (DRI) prices across India.

Odisha is the largest merchant producer of Pellet in the country with a total installed capacity of over 13 mtpa.

Current offers for Pellet of grade Fe 63 stands at Rs 7,500/MT (Loaded to wagons at Barbil, Odisha, Basic prices).

Sponge iron prices have corrected over Rs 1,000 in last 2-3 weeks on falling steel demand. Recently, a private miner in Odisha, with a monthly capacity of 5 lac tonnes has also cut its iron ore prices by Rs 400/MT.

“Looking at the demand and supply scenario, further downfall of prices is expected”, said market participants.