On February 13, SteelOrbis reported offers for pellets (6-20 mm, Fe 63 percent) in the Indian domestic market trending stable week-on-week at INR 7,000-7,100/mt ($109-110/mt) ex-warehouse Raipur.
Sources inform SteelOrbis that prices have since slipped by INR 200/mt and are presently at INR 6,800-6,900/mt ($105-106/mt) ex-warehouse Raipur. In dollar terms, the prices declined $4/mt.
A source added that while prices are under pressure in eastern and central India, western Indian pellet demand is “supporting and even slightly increasing their own regional prices.”
USD = INR 64.27 (Feb 13)
USD = INR 64.89 (Feb 20)