On February 6, SteelOrbis reported that Indian domestic pellet offers were trending up at INR 6,300-6,500/mt ($88-91/mt) ex-Raipur.
Sources inform SteelOrbis that prices have increased again to INR 7,800-8,000/mt ($110-112/mt) ex-Raipur. Over the past week, prices have increased $22/mt from the bottom of the previous range and $21/mt from the top of the same range. The increase in prices is attributed to higher iron ore prices as well as an increase in DRI prices.
USD = INR 71.60 (Feb 6)
USD = INR 71.17 (Feb 11)