On January 24, SteelOrbis reported that Indian domestic pellet offers were trending at INR 5,900-6,100/mt ($83-86/mt) ex-Raipur and INR 5,600-5,800/mt ($79-82/mt) ex-Durgapur.
Sources now report that both regions are converging at INR 6,000-6,200/mt ($84-86/mt) ex-works correlating with increases in sponge iron and higher export pellet prices. Ex-Raipur prices increased $1/mt from the bottom of the previous range while maintaining a stable top of the range. Prices ex-Durgapur, a region on the eastern side of India, encountered an increase of $5/mt from the bottom of the previous range and $4/mt from the top of the same range.
USD = INR 71.05 (Jan 24)
USD = INR 71.71 (Feb 4)