India: Raipur's pellet offers drop by INR 300/t ($3/t)

Raipur-based pellet producers reduced their offers for 62.5/63% (+/-0.5%) material by INR 300/t ($3/t) to INR 10,000/t ($106/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.