India: Sponge iron trades improve in Raipur as offers decline further

SteelMint’s benchmark sponge iron (P-DRI) prices declined further by INR 400/t to INR 24,000/t ($329) exw Raipur (central India). Meanwhile, trades improved following a decrease in offers as a total of around 6,000 t deals have been reportedly confirmed at INR 24,000/t exw. Also, a few lots have been sold from outside suppliers at INR 24,100-200/t on FoR Raipur basis, sources reported. In addition, it is also learned that a few mid-sized plants are holding sales at the current price range in anticipation of rebound in prices.