On rising iron ore prices in spot market and some improvement seen in domestic sponge iron market, Iron Pellet manufacturers in India prefer to hold offers.
Current prices of Pellet at Barbil, Odisha stands at around Rs 7500/MT (F.O.R railway siding, Basic prices, Excise of 12.36% Extra) for Fe 63+, CCS 240).
Whereas, prices for Fe 62 Pellet at Bellary, Karnataka is quoted in the range of Rs 7,400-7,500/MT (Basic prices, Excise of 12.36% Extra).
“We expect demand for Pellet to improve on rising steel prices in India and are not holding much of inventory now.
With restriction on supply of iron ore, Pellet prices are likely to remain stable further this month”, said a marketing executive of a Pellet plant based in Odisha.
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