India: Pellet producers increase offers by INR 200/t ($2/t) in Raipur, Chhattisgarh

Raipur-based pellet producers increased offers for Fe 62/63% (+/-0.5%) material by INR 200/t ($2/t) to INR 10,500-10,600/t ($111-112/t) exw. The increase in pellet prices was followed by sharp hikes in sponge iron and billet prices, driven by aggressive bookings from buyers in western India. Meanhile, sponge iron-PDRI prices surged by INR 1,350/t ($14/t) w-o-w to INR 26,950/t ($285/t) exw.