On December 4, SteelOrbis reported Indian domestic pellet offers trending flat at INR 6,300-6,500/mt ($89-92/mt) ex-works Raipur (central east India). Durgapur (east India) prices, on the other hand, reportedly declined to INR 5,400-5,600/mt ($76-79/mt) due to a soft export effect.
Sources now report a mixed movement of prices for Indian domestic pellet in the regions mentioned above. In Raipur, prices are slightly strengthening while Durgapur prices continue sliding on limited export inquiries from China. Ex-Raipur offer prices are now reportedly trending up at INR 6,600-6,800/mt ($91-94/mt) while ex-Durgapur prices have slipped to INR 5,100-5,300/mt ($71-73/mt). Ex-Raipur prices have increased $2/mt while ex-Durgapur prices have decreased $5/mt from the bottom of the previous range and $6/mt from the top of the same range.
USD = INR 68.73 (Nov 29)
USD = INR 70.64 (Dec 4)
USD = INR 72.32 (Dec 11)