SteelMint’s benchmark sponge iron price remains stable on moderate trades

SteelMint’s benchmark price assessment for sponge iron (P-DRI) remained stable today. The local plants in Raipur have floated offers at INR 25,300-500/t & about 1,000 t confirmed deals were reported at INR 25,200-25,400/t exw. Also, competitive offers were floated by outside suppliers at INR 25,000-25,200/t on FoR Raipur basis, with about 1,500 t confirmed deals being reported. Meanwhile, most of the major plants in Raipur held offers today on expectations of price recovery due to recent hike in pellet & iron ore prices.