India: Raipur’s pellet offers drop by INR 400/t ($4/t)
Raipur-based pellet producers reduced their offers for 62.5/63% (+/-0.5%) grade pellets by INR 400/t ($4/t) to INR 8,700-8,800/t ($92-93/t) exw yesterday. Pellet prices fell to around a one-year low, matching levels last seen in Jul’25. The decline was driven by inventory pressure, with steelmakers remaining cautious and showing a preference for iron ore lumps. Weak steel margins and subdued steel sales also pressured pellet demand.
