India: Sponge iron prices in Raipur fall by INR 100/t

Sponge iron prices remained strong in Raipur despite falling billet prices on 16 Sep’21. Producers kept offers stable in line with sufficient orders. SteelMint’s assessment for sponge P-DRI dropped by INR 100/t to INR 30,000/t exw, due to lack of trades today.

• Some P-DRI deals reported at around INR 29,800-30,000/t (exw and FOR Raipur) versus INR 29,900-30,100/t yesterday.
• Indicative price for DR CLO grade sponge is assessed at INR 33,000/t exw.