DRI, pellet prices rise

DRI, pellet prices rise

South American DRI prices for exports reportedly increased to $260-270/mt. Expectations are that they will rise an addition 10% next quarter. Furthermore, following the agreement between CVRD and Arcelor, some other pellet producers in South America also increased their pellet prices 86.7% year-on-year for 2005. The export price of pellets in India is $135/mt, while DRI is sold for $345-390/mt in the Indian market. Global steel production costs have gone up $120-170/mt in the last two years.