On November 6, SteelOrbis reported Indian domestic pellet offers contracting on the top of the previous range to INR 7,700-7,900/mt ($106-108/mt) ex-works Raipur (central east India). Sources estimated that while ex-Durgapur (eastern India) prices trend in tandem with Raipur, ex-Durgapur prices were slightly lower by INR 500/mt, therefore, estimated at INR 7,200-7,400/mt ($99-101/mt) on November 6.
Sources inform SteelOrbis that prices are now reportedly at INR 7,500-7,700/mt ($103-106/mt) ex-Raipur and at INR 6,800-7,000/mt ($94-97/mt) Durgapur. Ex-Raipur prices decreased $3/mt from the bottom of the previous range and $2/mt from the top of the same range. Ex-Durgapur prices declined $5/mt from the bottom of the previous range and $4/mt from the top of the same range. A source noted that the price is the lowest in three months and correlates with prices in late August before the peak in the first half of September.
USD = INR 72.97 (Nov 6)
USD = INR 72.50 (Nov 13)