As per market predictions, Odisha based Iron Pellet makers have, in a couple of days, cut prices further as market did not have many buyers at previous levels.
One of the manufacturers offered Pellet at Rs 7,300/MT in the beginning of the week but failed to find any interest.
Buyers are willing to procure the raw material at Rs 7,000-7,100/MT levels and on requirement basis only.
Both slow off take and low prices of finished steel products have also impacted markets.
Update – Raipur (Chhattisgarh)
After price drop of Rs 500/MT to Rs 8,500/MT on 23 May, Raipur based Pellet producer decided to maintain offers till the month ends.
In a couple of days only, offers at Barbil and Keonjhar came down by Rs 200/MT for the second in the last week of the month.
Hence, prices further came down by Rs 200/MT to Rs 8,300/MT at Raipur due to falling prices in the state of Odisha.
Current Pellet Prices:
Rs 7,000-7,100/MT (Barbil), down by Rs 300/MT
Rs 6,700-6800/MT Keonjhar, drop of Rs 200/MT
Rs 8,300/MT Raipur, fall of Rs 200/MT
Ex works prices
-Updated
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