Eastern India-based plant exploring sponge sales in Raipur

A West Bengal-based plant has offered sponge P-DRI (FeM 78-79%) for Raipur, Central India at around INR 31,000/t FoR, whereas local sponge manufacturers in Raipur have floated offers at INR 31,700-32,000/t exw, for FeM 80%. Yesterday, the plants located outside Raipur sold P-DRI at around INR 32,000/t FoR basis. In the last two days, SteelMint’s price assessment for Raipur sponge P-DRI dropped by INR 900/t to INR 31,500/t exw, on account of lower bids, competitive offers from outside plants & falling billets prices.