SteelMint’s benchmark sponge P-DRI (FeM 80%) prices fell by INR 200/t to INR 28,800/t exw Raipur on 14 Jul’21. Falling billet prices weighed on the sponge iron market, however further fall in prices stands limited – as cited by manufacturers, due to higher input cost. Hence, they are planning to hold sales, if bids continue to hover on the lower side.
- About 1,500 t of P-DRI deals were reported at INR 28,800-28,900/t as against offers at INR 29,000-29,100/t exw and FoR Raipur.
- Meanwhile, DR CLO grade sponge iron offers were stable at around INR 31,500/t, however, indicative trade price through participants were heard at INR 31,000-31,200/t exw.
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