In October 2025, the Indian pellet market remained almost stable and the prices were highly supported by controlled supply due to logistical bottlenecks in Odisha and stable demand from the sponge iron producers, despite overall muted steel market activity. The prices at Raipur holding steady at ₹10,250 as on 20th October 2025. However, as per sources, the pellet producer at Raipur were seen reducing the offers by ₹400 per tonne at the closing of last week. This was majorly due to drop in sponge iron prices, along with cost-competitive landed offers from eastern India, pulled down the pellet tags in the central belt.

Outlook:

The market is expected to trade moderately firmer on re-stocking anticipated as mid-sizable sponge mills ramp up production after festivals. Supply remains tight in the east, and the international ore market is stable albeit export demand continues to remain soft. However, domestic absorption should keep the market rangebound and upward biased.