India: Raipur pellet offers drop by INR 300/t ($4/t)
Raipur-based pellet producers reduced their offers for 63/63.5% (+/-0.5%) material by INR 300/t ($4/t) to INR 9,600-9,900/t ($108-111/t) exw recently. The downward revision follows persistent weakness in sponge iron and semi-finished steel prices, coupled with sluggish market sentiment and limited buying interest from downstream sectors.