On September 26, SteelOrbis reported Indian domestic pellet offers trending down at INR 8,900-9,100/mt ($123-125/mt) ex-works Raipur.
Sources inform SteelOrbis that offer prices have declined again to INR 8,200-8,400/mt ($112-115/mt) ex-works Raipur, down $11/mt from the bottom of the previous range and $10/mt from the top of the same range. A source noted that domestic pellet prices are being affected by both a decline in active domestic buying and a slowdown in Chinese inquiries after their recent holiday.
USD = INR 72.58 (Sep 26)
USD = INR 73.29 (Oct 16)