SteelMint has also learned from the sources that Durgapur pellet offers have further declined today to INR 6,700/MT against the assessment made earlier this week at INR 7,000/MT. Buyers are eyeing for further drop in offers looking at the decline in P-DRI prices.
According to the market participants report to SteelMint, Raipur (Central India) based pellet manufacturers have reduced offers yesterday to INR 7,600/MT as against last offers INR 8,000/MT (ex-Raipur, GST extra). However, amid decline in P-DRI prices, buying interest at quoted offers has remained on the lower side which has limited trades. P-DRI price has decreased sharply by INR 1,100/MT to INR 20,200/MT against INR 21,300/MT a week ago. SteelMint in conversation with major pellet buyers learned that buyers are expecting the decline in offers considering low trades at present offers.