SteelMint’s benchmark pellet sponge (P-DRI, FeM 80%) prices dropped by INR 100/t to INR 29,200/t exw Raipur on 19 Jul’21. However, demand remains active as it is unlikely that prices would drop in the coming days with rising coal prices, seasonal reduction in output as well shutdown of a few kilns in Raipur, as per SteelMint reports.
About 5,000 t of P-DRI deals were reported at INR 29,100-29,300/t as against offers at INR 29,200-29,400/t on exw and FoR Raipur.
Supply shortage of DR CLO grade sponge iron has led to a surge in prices by INR 300/t. Deals were reported at INR 31,700-31,900/t exw as against offers at INR 31,900-32,100/t exw.
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