Central India: Sponge iron prices attain stability after persistent downslide

SteelMint’s benchmark sponge iron (P-DRI) prices remained unchanged today at INR 30,000/t ($410), exw Raipur, Central India. Prices found stability due to a slight uptick in billet prices amid prevailing average demand.

• Raipur plants kept P-DRI (FeM 80%) offers firm at INR 30,000-30,200/t, exw. However, about 2,000 t of deals were assessed by SteelMint at INR 29,700-30,000/t on exw and FoR Raipur basis.
• Sponge C-DRI (70:30 mix) offers from Odisha remained same at INR 31,000/t, FoR Raipur.
• Sponge DR CLO grade prices were down by INR 400/t to INR 32,000-32,200/t, exw, due to low bids.