As a result of improvement in billet prices as well trades, sponge iron demand showed signs of improvement on 9 Sep’21. Sponge P-DRI (FeM 80%) prices in Raipur moved up by INR 100/t to INR 29,100/t exw.
- 6,000 t of P-DRI deals were reported at INR 28,900-29,100/t as against offers at INR 29,000-29,300/t exw and FoR Raipur.
- A couple of major plants in Raigarh and Odisha have reported maintenance shutdowns for 10-odd days and daily sponge iron production loss from each plant is assessed at nearly 1,100-1,200 t.
- Hence slight supply shortage of sponge iron likely to remain in the central region.
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