SteelMint’s benchmark sponge iron (P-DRI) price dropped further by INR 200/t to INR 23,500/t ($324) exw Raipur, Central India. However, on lower offers, trades improved by two-folds. SteelMint confirmed about 3,000 t deals today at around INR 23,500-600/t on exw & FoR Raipur as against 1,500 t deals yesterday at near to INR 23,700/t on FoR Raipur basis. Further, sponge makers are hopeful that the prices may rebound in the coming days on active exports of pellets and resumption of finished goods exports from Central India.
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