India: Sponge iron prices rise by INR 300/t in Raipur

Sponge iron prices remained strong following tight supply as well active demand. SteelMint’s assessment for sponge P-DRI (FeM 80%) rose by INR 300/t to INR 30,100/t exw-Raipur.

• About 3,000 t of P-DRI deals were reported at INR 29,800-30,100/t as against offers at INR 30,000-30,200/t exw and FOR Raipur.
• Sponge prices at other locations also increased owing to low productivity, active demand and rise in billet prices.