SteelMint’s benchmark sponge P-DRI (FeM 80%) prices fell by INR 100/t to INR 29,100/t, exw Raipur, on 2 Jul’21. Prices remain under pressure due to dull demand as a few plants (standalone furnaces as well as hot rolling mills) have curtailed production by around 20-30%. Buying of sponge iron by these producers has fallen as a result.
- About 1,500 t of deals for P-DRI were reported at around INR 29,000-29,100/t as against offers at INR 29,200-29,300/t, exw and FoR Raipur.
- Offers for sponge C-DRI stand at INR 30,400-30,500/t on exw basis; however, just a few deals were heard.
- Bids for DR-CLO grade sponge iron dropped to around INR 31,300-31,500/t as against offers of INR 31,800-32,000/t, exw.
Leave a Reply