On January 30, SteelOrbis reported offers for pellets (6-20 mm, Fe 63 percent) in the Indian domestic market at INR 7,100-7,300 ($111-114/mt) ex-warehouse in the Bellary and Raipur regions.
Sources report that domestic pellet offers are presently at INR 7,000-7,100/mt ($109-111/mt) ex-warehouse. The new range represents a decline of $2/mt from the bottom of the previous range and $3/mt from the top of the same range.
USD = INR 63.79 (Jan 30)
USD = INR 64.15 (Feb 6)