India: Pellet makers reduce offers by INR 300/t ($3/t) in Raipur, Chhattisgarh

Raipur-based pellet producers reduced offers for Fe 62/63% (+/-0.5%) material by INR 300/t ($3/t) to INR 10,300-10,400/t ($119-120/t) exw. The reduction was fuelled by lower demand and a fall in sponge iron-PDRI prices by INR 500/t ($5/t) w-o-w to INR 25,800/t ($272-273/t) exw. Furthermore, competitive offers from Odisha and a slower recovery in pellet demand compared to lumps also pushed pellet producers to reduce offers.