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

Pellet manufacturers in Raipur reduced offers for Fe 62.5/63% (+/-0.5%) grade pellets by INR 200/t ($2/t) to INR 9,200-9,300/t ($97-98/t) exw. Weak market sentiments following the OMC iron ore auction and a decline in sponge and semi-finished prices led to a drop in pellet offers. Sponge PDRI prices in Raipur dropped by INR 1,050/t m-o-m to INR 25,350/t ($267/t) exw in May'26.