On July 3, SteelOrbis reported Indian domestic pellet offer prices at INR 6,600-7,200/mt ($96-105/mt) ex-works in the ex-Odisha and ex-West Bengal regions.
On the northwestern side of India, sources report that pellet offer prices have continued their ascent since the beginning of the year, after recuperating from the correction in April, and are now reportedly at INR 7,700/mt ($112/mt) ex-Gujarat region (northwest India). A source added that “generally pellet prices trend in tandem through most Indian regions given the commodity nature of the product.” Prices in the ex-Gujarat region around July 3 are estimated at INR 7,200-7,300/mt ($105-106/mt). Compared to a month ago, prices in the region increased $6-7/mt.
USD = INR 68.53 (Jul 3)
USD = INR 68.64 (Aug 7)