India: Raipur pellet offers rise by INR 200/t ($2/t)
Raipur-based pellet producers hiked their offers for 62.5/63% (+/-0.5%) material by INR 200/t ($2/t) to INR 10,600-10,700/t ($115-116/t) exw recently. Sources indicate that selling pressure on pellet producers contributed to this price hike. This was due to sharply hike in sponge and billet prices around INR 600-1,000/t w-o-w yesterday. Buyers remained cautious to urgent requirements while seeking clarity on the sustainability of the price surge.
