Pellet prices in Raipur remained relatively stable over the past days, being nearly ₹9,700/t on November 18, 2025, while the markets held firm in anticipation of an auction from OMC to come next week. Early firmness, as well as firm downstream demand from sponge iron and semi-finished steel end-users, contributed to stable pellet price levels even as sponge and billets have recently softened, which contributed to less aggressive buying behaviour. Early week domestic offer levels were mostly in the ₹9,600–9,800/t ex-works range, while some traders from Odisha were at the higher end of the range at ₹9,600–10,000/t. Trading activity was moderate as most buyers had already procured volumes earlier in the week and were looking for some indication of market direction prior to more buying behaviour.

Outlook:

There is potential for some price firming over the next two weeks, after the OMC auction, though the market is likely to remain in a range-bound phase. Buyers are cautious right now and likely will remain that way until after the auction results are made public. Supply from NMDC is stable at the moment. Any upside in pellet prices will depend largely on how downstream steel behaves, resuming restocking by sponge iron units, along with upcoming prices from state-owned companies.