SteelMint’s benchmark sponge iron (P-DRI) price has remained stable today at INR 27,300/t ($377), exw Raipur, Central India as offers from suppliers remained firm on expectations of demand recovery. However, limited buying interest was seen. SteelMint confirmed a few deals (about 2,000 t) for P-DRI at INR 27,300/t exw & FoR Raipur, as against floated offer at INR 27,400/t exw. Also, limited trades have been reported for DR CLO grade sponge at INR 29,200-400/t against offers at INR 29,400-600/t exw. Sources are expecting that sponge iron prices may continue to remain volatile due to strengthening iron ore prices as well as average orders among suppliers.
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