With marginally limited enquiries along with falling billet prices, sponge iron prices in central India dropped by INR 100/t today. SteelMint’s assessment for pellet sponge (P-DRI, FeM 80%) in Raipur stands at INR 30,300/t exw on 30 Jul’21.
About 2,500 t of P-DRI deals were reported at INR 30,100-30,300/t and the majority of deals were concluded at around INR 30,200/t on exw and FoR Raipur basis.
Inline offers of DR CLO grade sponge iron remained strong and were assessed at INR 33,400-33,500/t exw.
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