Central India’s largest Pellet producer has raised prices by INR 500/MT, owing to rising Iron ore fines prices in Odisha.

Current offers are standing at INR 8,600/MT (ex works), which was quoted at INR 8,100/MT last. Prices of other pellet producing companies in Central India remain unchanged.

This change was the result of environmental clearance that Serajuddin mines has recently got from government, and would be resuming its mining operation soon. The clearance note came with a permission to mine 15 MnT of Iron ore.

Serajuddin is among prominent miners in Odisha known for its high quality ore. The Company has decided to restart its booking of Iron ore.

The Pellet prices were stable for long time. Resuming of these mining operations has brought a great relief to Steelmakers. But it is even believed that this hike in prices are for temporary period, with the start in booking and increase in availability of Iron ore, the price of Pellet would soon come into pressure.

Chhattisgarh state rich in Iron ore, is emerging as major market for Pellet, expected to  produce around 9.9 MnT this financial year.