Sponge P-DRI (FeM 80%) prices in Raipur fell by INR 200/t to INR 29,400/t exw. Market participants have reported limited bids, while a couple of plants claimed that demand was active for prompt deliveries, SteelMint observed.
- A few deals were confirmed for P-DRI at around INR 29,300-29,400/t versus offers at INR 29,500-29,600/t on exw and FoR Raipur basis. Also, a few plants claimed that they had buyers for ready dispatch at around INR 29,500/t exw, but SteelMint couldn’t confirm these deals before publication.
- Sponge iron producers said that prices shouldn’t fall due to shortage of supplies, while sources expect that if billet prices fall further sponge iron makers have to reduce prices.
Leave a Reply