India: Raipur pellet offers drop by INR 300/t ($3.5/t)
Raipur-based pellet producers reduced their offers for 62.5/63% (+/-0.5%) material by INR 300/t ($3.5/t) to INR 9,300-9,600/t ($103-106/t) exw recently. Sources indicate that selling pressure on pellet producers contributed to this price drop. This was due to lower buying interest from steelmakers and a preference for DRCLO as raw material feed. However, trades have not yet been recorded at the revised offers.