India: Raipur sponge prices drop even as trade volumes improve

SteelMint’s benchmark sponge P-DRI (FeM 80%) prices fell by INR 100/t to INR 30,400/t, exw Raipur, on 23 Jun’21. Prices dropped slightly on subdued demand and falling billet prices.

• About 2,500 t of P-DRI deals were reported at around INR 30,300-400/t against offers at INR 30,500-30,600/t, exw and FoR Raipur.
• Bids for DR-CLO grade sponge iron fell to INR 32,800-33,000/t against offers of INR 33,200-33,400/t, exw.